The in-house commercial legal team of a global Fortune 500 technology company was faced with growing volumes of MSA agreements that required review - approximately 1,200 annual agreements. Most agreements were on bespoke third-party customer paper, further impacting efforts to standardize or automate the review. The legal department was tasked with reducing costs and implementing a solution in line with the company’s broader goals of achieving digital transformation.
UnitedLex coordinated with the commercial legal subject matter experts to identify 65 core contract topics. We then prioritized the level of risk associated with each topic and established a template clause library in the preferred language for each.
Our dedicated development team followed this stage by building and validating custom data models that were designed to identify the core contract topics (e.g. Indemnification, IP, Limitation of Liability, etc.).
AI-assisted technology was deployed across our team of 200+ transactional attorneys, utilizing the tool to perform a low-cost, first-pass review of third-party master agreements.
Our client gained a 25 percent reduction in the time and costs associated with manual review through AI automation. Increased speed of delivery allowed UnitedLex to meet or exceed all delivery time expectations from the business and all SLAs related to quality, through the application of a standardized clause library. An additional 30 percent cost reduction was driven by utilization of our global transactional attorneys, who performed a cost-effective, first-pass review of each agreement.