OpenLaw brings blockchain-based legal agreements and legal automation to Reynen Court
OpenLaw has announced that its platform will be made available on the legal tech app platform Reynen Court, which enables law firms to deploy pre-vetted, security-tested applications quickly within their own technology environments, either on-premise or in the cloud.
Using OpenLaw, anyone can more efficiently engage in commercial transactions through cutting edge legal automation tooling, all while leveraging next-generation blockchain-based smart contracts. For background, smart contracts can be thought of as prescriptive scripts that can facilitate and execute commercial agreements between parties, for example an escrow script. OpenLaw brings the human-readable contract form that wraps these prescriptive scripts, or smart contacts.
“We chose to work with Reynen Court to help bring the bleeding edge of technology to law firms and give lawyers the ability to play with this emerging technology,” explains Aaron Wright, CEO of OpenLaw, “We’ve heard a lot of discussion around blockchain technology, OpenLaw is a tool to facilitate the use of technology while elevating the role of legal automation in conducting legal work.”
Reynen Court has assembled a team of experts in enterprise software, cybersecurity, and cloud-native computing technologies. Reynen Court has launched a beta version of its legal app platform for a select list of its backers, which currently include 19 major firms, to be followed later by a public launch. OpenLaw is now available to the team.
One Reynen Court member firm, Latham and Watkins, recently used OpenLaw’s legal automation tool to generate Convertible Notes. For more information on this, please refer here: https://www.lw.com/news/consensys-latham-announce-convertible-note-generator-for-startups-powered-by-openlaw.
“We are excited to welcome OpenLaw as a featured product on our platform. Smart contracts are changing the very nature and scope of the work lawyers do, and ConsenSys clearly is leading innovation in this important new arena,“ said Reynen Court Founder and CEO Andrew Klein.
OpenLaw is a blockchain-based protocol for the creation and execution of commercial systems. Using OpenLaw, financial institutions and startups can more efficiently engage in the end-to-end commercial process in a highly secure and efficient manner, all while leveraging next-generation blockchain-based smart contracts. To learn more about OpenLaw, check out our site and documentation for an overview and detailed reference guides. You can also find us at firstname.lastname@example.org or tune in in our community Slack channel. Follow our Medium and Twitter for further announcements, tutorials, and helpful tips over the upcoming weeks and months. www.openlaw.io
About Reynen Court
Reynen Court LLC enables law firms and corporate legal departments to speed their adoption of AI and other new technologies. The Reynen Court platform combines a solution store for legal technology with a powerful control panel that makes it easy to adopt and manage modern cloud-based software applications without having to trust firm or client content to the rapidly growing universe of vertically integrated SaaS providers. The platform also lets firms manage subscriptions and provisioning from one place and provides valuable telemetry and enhanced interoperability between and among third-party applications. Founded by serial internet entrepreneur and former Cravath, Swaine and Moore associate Andrew D. Klein, Reynen Court is supported by a broad consortium of nineteen of the largest global law firms. Clifford Chance and Latham & Watkins serve as co-chairs of the Reynen Court consortium and are also investors in the company. Paul Weiss serves as vice chair of the consortium. More at www.reynencourt.com