Ask anyone deeply involved in negotiating deals and you'll likely hear that much of the time spent negotiating terms and contract language does not add value. In the large part, this stems from an imperfect understanding of prevailing market terms and conditions and leads to wasted time arguing over 'what's market'. This slows deal velocity and causes economic harm to both represented parties. AI fueled contract review software has the opportunity to address this situation, but the focus of Legal Tech companies has been largely on review of terms. Dean Sonderegger will discuss a standards-based approach that allows attorneys and contract professionals to reduce variability in terms, negotiate with better leverage, and ultimately shorten deal cycles.
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