How Legal Startup Evisort Is Saving Businesses Money
This synopsis of the Science World Report article originally appeared at the link below, please read the full article on the site!
If one were to ask a lawyer what they spend the majority of their day doing, the least expected practical answer would probably be “reading.” Nor would the average layman anticipate that the reading was very hard work — surely, anyone who had passed a bar exam would be more than capable? But the twist is that this reading involves researching contracts. Hundreds of them, each dozen pages long, in the space of a month, sometimes a couple dozen per day.
It turns out that computers, when they entered the legal profession somewhere in the middle of the 20th century, solved just one problem: writing documents. Legal software is able to take a few names and figures and generate pages of boilerplate contracts automatically. But decades later, that sea of printed paper is forming a cognitive burden that swamps the legal industry. We haven’t developed a solution to the other problem: reading.
Being able to read a contract quickly means that you can pull out answers to questions about a contract’s indemnity, jurisdiction, termination clauses, exclusions, confidentiality, dispute resolution procedures, exceptions, and even expiration dates. All this would be preferable to do on the spot, but instead, our present practice has been to have a waiting period while a research team gets back to the query in a few days.
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