Dealing with the deluge of incoming contracts
10.45 to 11.ooam | Maia Room
Many companies receive draft contracts from their business partners on a daily basis. The company may have its own template contract, but the commercial reality is often that the company has to accept the business partner’s preferred form of contract as the starting point for negotiations. In the past, contract managers and corporate counsel had to undertake their review of their partners’ contracts manually. Legal techology now offers the potential of removing a lot of the drudgery from this exercise. This presentation will feature a live demonstration of the ContractProbe tool and how it can be used to determine the differences between a company’s own template terms and the terms received from a business partner, and to assist in responding to the business partner’s draft.
Michael Pattison is the founder of ContractProbe, a machine learning tool to review draft legal contracts. He was previously a partner at a top tier Australian legal firm. While working as a technology lawyer Michael formed the idea of using artificial intelligence to help lawyers work more efficiently. At ALTACON, Michael will share the lessons he has learned from developing that idea into a viable product and then marketing it globally.