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What is the AI contract review platform "LegalForce"?
LegalForce" provides an AI-based "automatic review" function for contracts, a clause search function, and a collection of templates and forms for contracts,Products that simultaneously improve the quality and efficiency of contract workIt is.
After almost two years since the official version was launched in April 2019, more than 1,250 companies and law firms are currently using the service on a paid subscription basis.
Background of the introduction of LegalForce
As the work and role of legal affairs expands, the challenge is to improve the efficiency of contract review, which accounts for half of legal work.
interpoint (interword separation)Streamlining routine contract reviewThe company introduced the system with the expectation that it would allow people to concentrate on contract work that should be judged by others.
Effects of introducing "LegalForce
. depending on the type of contract,Utilizing automated review has cut the time spent on contract review by one-third.and experience.
The information can be accumulated by uploading all past projects as well,Utilize as a "contracting platformThe company has been able to improve the efficiency of its business operations.
【【Sojitz Corporation Company Profile]
Company name: Sojitz Corporation
Business Activities: Manufacturing, marketing, importing and exporting a wide variety of products, providing services, and investing in various businesses in Japan and overseas under a seven-division structure: Automotive, Aerospace & Transportation Projects, Infrastructure & Healthcare, Metals, Resources & Recycling, Chemicals, Living Essentials & Agribusiness, and Retail & Consumer Services. The company is engaged in a global and diversified business.
Address : 2-1-1 Uchisaiwai-cho, Chiyoda-ku, Tokyo 100-8691, Japan
Establishment : April 1, 2003
Number of employees: (Non-consolidated) 2,600 (Consolidated) 19,763 *As of September 30, 2021
Capital ：160,339 million yen
President and CEO: Masayoshi Fujimoto
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Case study URL▶︎https://legalforce-cloud.com/usecase/39
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【【About LegalForce, Inc.]
LegalForce, Inc. was founded in 2017 by two lawyers from a major law firm.Development and provision of software that improves the quality and efficiency of corporate legal services by combining proprietary AI technology with the legal expertise of attorneys.The company has been working on a new project.
We also contribute to the academic field, including joint research with Kyoto University, and have provided the official versions of the AI contract review platform "LegalForce" since April 2019 and the AI contract management system "LegalForce Cabine" since January 2021.
■What is the AI contract management system "LegalForce Cabine
Utilizing natural language processing and machine learning technologies developed for the AI contract review platform "LegalForce,A system that automatically compiles a database of contracts by managing contracts that have already been executed.It is.
By simply uploading a contract, the system automatically transcribes and extracts contract information ("title," "date contract was executed," "name of contracting party," "start and end dates of contract," etc.) and assembles it into a searchable database, enabling centralized management of contracts and control of contract risks.
Company name: LegalForce, Inc.
Location: Toyosu Front 6F, 3-2-20 Toyosu, Koto-ku, Tokyo 135-0061, Japan
Representative: Nozomu Tsunoda, CEO
Business: Research, development, operation and maintenance of software related to legal services
Capital, etc.: 4.19 billion yen (including capital reserve, etc.) (as of February 2021)