Gino LegalTech (Gino LT) launches the first platform for lawyers to robotise their contracts.
From word processing to concept management
The legal profession today faces three challenges:
- an exponential growth in number and complexity of contracts
- an increasingly performance-based evaluation of lawyers’ activity
- automatic retrieval of contractual data for management purposes as well as for cognitive computing (i.e. systems which create knowledge from data)
The answer to these challenges is to provide lawyers with a means to robotise their contracts autonomously and efficiently, without assistance from IT support.
Robotisation provides lawyers – whether in-house counsels or at law firms – with the ability to transmit to a digital system the knowledge it needs in order to emulate their own drafting process: interactive questioning of the client to define requirements and drafting of the contract according to the answers.
In practice, Gino LT leveraged new technology in order to conceive a user-friendly SaaS platform that enables any legal practitioner to robotise contracts as they are being drafted, by simply enriching the text with instructions that are easy to implement.
Robotising contracts brings about a paradigm shift in drafting methods: lawyers no longer need to tediously cut & paste text, they now simply manage concepts. This is only the first step, for the legal profession, in harnessing artificial intelligence for contract-drafting purposes.
Contract robotisation is lawyers’ future El Dorado
“In the next 10 years, lawyers will have to reinvent most of the law in order to provide a legal framework for the new world emerging; they will need more time and space for creativity, which is something artificial intelligence will provide them with. Contract robotisation will be their Holy Grail,” Philippe Ginestié
Lawyers will create one robot for each type of contract (NDA, shareholders’ agreement, service contracts, employment contracts, leases…) and enrich each robot with the particulars of each new situation encountered, with any new legal development and with increasingly refined writing.
Lawyers will therefore capitalise on their contract-drafting knowledge over time by creating robots – which will represent significant assets.
Through the use of robots, a lease contract will take a lawyer 20 min instead of 2 – 6 hours to draft; a shareholders’ agreement will take 30 min instead of 8 – 15 hours.
By allowing co-workers or third parties (salespeople, buyers, HR officers…) to also use their robots, lawyers will increase their reach and efficiency. A large number of contracts, all in conformity with the norms enacted by the lawyers, will be produced without any need for the lawyers’ intervention – except in cases where negotiations lead to an alteration of these norms.
Moreover, all the data related to each contract will automatically be entered into corporations’ or law firms’ information systems.
About Gino LegalTech
Gino LegalTech was founded by Philippe Ginestié, lawyer and founder of the Ginestié Magellan Paley-Vincent law firm.
The company has inherited 10 years’ worth of accumulated research & development by Ginerativ, which implemented the first generation of contractual robots.
Discover our platform at www.ginolegaltech.com; follow our newsfeed on Twitter @Ginolegaltech