The new feature will save transactional attorneys in law firms hundreds of hours in contract drafting
NEW YORK, July 19, 2022 /PRNewswire/ -- Wolters Kluwer Legal & Regulatory U.S. today announced a collaborative partnership to provide VitalLaw customers with access to Lawgood, a platform that leverages crowdsourced market intelligence to drive efficiency in the contract drafting process. This feature on VitalLaw will be known as VitalLaw Agreement & Clause Builder powered by Lawgood, and will be available on five practice area dashboards across the platform, including Labor & Employment, Human Resources, Intellectual Property, Corporation Law & Governance, and Practice of Law.
With VitalLaw Agreement & Clause Builder powered by Lawgood, users can make pre-selections such as point of view, jurisdiction, and industry, while customizing specific clauses to develop an agreement template tailored to their needs and goals. Unique to the feature, users can see what selections and customizations attorneys in similar situations have made to their own agreements. For example, they can see that 45% of Lawgood users have selected a certain variation of a particular standard clause.
"With VitalLaw Agreement & Clause Builder powered by Lawgood, our customers can benefit from the expertise of the practice attorneys that created the Lawgood agreement templates and customization options," said Ken Crutchfield, Vice President & General Manager of Legal Markets at Wolters Kluwer Legal & Regulatory U.S. "While legal professionals are often limited by cost pressures, adding this feature on VitalLaw will enable attorneys to do more with fewer resources, and we look forward to our customers' feedback on this new tool to enable a higher level of efficiency and productivity."
To access the latest feature, VitalLaw users will be able to link over directly to the Lawgood platform. Not only can users change clause language and favorability based on negotiating position and company, but also tap into crowdsourced market positions and trends, and find content vetted by lawyers from Am Law 100 firms.
"We're very excited to expand our partnership with Wolters Kluwer, a leading provider of legal solutions, in support of their vision to build the next generation of digital legal products," said William Moriarty, CEO and Co-founder of Lawgood. "VitalLaw Agreement & Clause Builder will bring an innovative drafting solution and practical resource to law firms and in-house teams alike."
Lawgood provides a seamless user experience requiring no need for tutorials or onboarding process, and helps lawyers make better contracts through a combination of crowdsourced data and decision support technology. With Lawgood, lawyers can draft and review contracts in minutes without having to rely on time-consuming research or costly practice resources.
To learn more, visit: https://www.wolterskluwer.com/en/solutions/vitallaw-law-firms/vitallaw-agreement-and-clause-builder
