Contract Theory

Written by Brian Wick on Oct 12 2016| 0 Comments

Contracts and technology seem to continue to be hot topics these days as organizations realize how important contracts are to their businesses. What is being focused on now are the two types of value with contracts: the legal business impacts, and the commercial or economic business impacts.

The legal impacts address how a contract follows the rule of law or regulatory mandates. Current analysis of contract data often falls into this category, which tracks the risks of litigation, legal implications of non-compliance of a term or condition, and also aspects of contracts that do, or do not follow regulatory mandates. This type of contract analysis is used to determine if a contract and its performance are legal or not, usually black or white.

The Nature of Events

Written by Mark Williams on Sep 21 2016| 0 Comments

“Events, dear boy, events,” was the response of Harold MacMillan, British prime minister from 1957 to 1963, when asked what he feared most. And it is “events” that tend to dominate the lives of most executives. Not the day-to-day processes, reports, and meetings that can be handled in a systematic way and delegated to teams, but unexpected changes in the regulatory environment, an urgent issue raised at a board meeting, or the failure of an important supplier or customer; in short, the unpredictable and unknowable challenges executives face every day.

Intelligent Contracts Blog

Written by Kevin Gidney on Sep 13 2016| 0 Comments

Technology is an ever moving target. That’s how I’ve described it to my children, adding it’s one of the most demanding working environments because every few weeks or months you need to understand and account for new technologies changing the nature of IT. In other industries, such as the medical profession, it’s very seldom that a large shift in fundamental knowledge or understanding occurs. It’s like the medical industry is an append only learning method, meaning information is primarily added onto a base of foundational principles.

The Impact of Technology on the Legal Profession

Written by Brian Wick on Jul 25 2016| 0 Comments
There has been a lot of buzz in the legal profession about the impact of technology, in particular machine learning and artificial intelligence on the future of legal. Especially what it might mean for jobs and functions in that profession going forward. 
Tim Norman

The UK Prime Minister and Government Committed to Invoking Article 50 and the UK Leaving the EU

Written by Tim Norman on Jul 13 2016| 0 Comments

For a minimum of two years and perhaps quite a bit longer there will be no real idea of what will change. Perhaps therefore, you can adopt a “wait and see attitude”, get on with your day-to-day work and, once things are clear, then start work based on the facts. Better than wasting time on planning for something that may not happen for some time and that anyway, you really don’t know the detail of?

The Time to Start IS Now

But that would be a mistake – in fact, there are things you can do now to mitigate the impact of any future changes and provide the fullest protection for your business, whatever the final treaties and agreements that are agreed and enacted.

Tim Norman

Brexit - What This Could Mean for Your Contracts

Written by Tim Norman on Jun 28 2016| 0 Comments
Business hates uncertainty. What is clear is that the vote for the UK to leave the EU has created a high degree of uncertainty for the future. This will significantly impact investment and planning decisions and existing trading agreements, as the various political and trade negotiations play out over the coming months and years.
However, it is a fact that many of your existing contracts and contractual relationships contain clauses pertaining to the UK’s membership of the EU. These must be understood and steps taken to address and reduce the exposure and risk that these may pose to your business.
What’s the impact?

The Three Stages of Contract Value – As Described by Mark Harris, CEO of Axiom

Written by Brian Wick on Jun 07 2016| 0 Comments

There is a recent article posted on Bloomberg by Mark Harris, CEO, of Axiom. It’s about the intersection of big data and legal, and some of the confusion about this intersection. The article is here.

The piece goes in a good direction as it discusses the importance of contract data to an organization. Mark writes how the data in contracts is invaluable, and when leveraged, it powers business and legal decisions and can make a company run far more efficiently and effectively. Without it, a company misses an important opportunity.

Machine Learning

The importance of data modeling and subject-matter experts in Machine Learning

Written by Machine Learnin... on Jun 02 2016| 0 Comments

A friend of mine recently reminded me of the notorious quote from Frederick Jelinek (the father of modern Speach Recognition) "Anytime a linguist leaves the group the recognition rate goes up". I remember being quite upset about it, back during my Linguistics studies.  Is it really so that if we exchange the domain experts (i.e. phonologists in his case) with pure engineers, the performance of the system will improve? This led me to think about my domain this time. Given a system that heavily utilizes Machine Learning (ML), what are the things that make its performance go up: the domain experts or the lack of these. For me it is clearly the former and here I will defend why.

Apogee’s M&A announcement

Written by Brian Wick on May 19 2016| 0 Comments

Our friends at ApogeeLegal recently announced their second extraction pack based on Seal – this time for M&A diligence. 

Extraction Packs are encrypted sets of discovery and analysis components that are tailored by our partners to address specific market requirements - in this case M&A. Extraction Packs infuse our machine learning (ML) models and Natural Language Processing (NLP) capabilities with the domain expertise of our partners to provide turnkey modules that shorten the time and lower the costs to find contracts and extract specific data elements.

Seal Wins a “Stevie” Award for Innovation

Written by Brian Wick on May 12 2016| 0 Comments
Right on the heels of our LegalTech News award for Innovation, Seal has now won a Silver “Stevie” Award by the ABA, or American Business Awards. We won for the Most Innovative Company in the 100 employee category, in their 14th annual awards.  
The judges chose Seal for our “solid business performance and achievements through effective innovation.”  One judge remarked, “I know my company could use your solution. Good work.” 
We get that a lot.