Chapman Tripp have firmly entered the legal tech world with the launch today of their new legal documentation service, employing artificial intelligence and marrying tech and legal expertise into a new service offering.
- 1 Chapman Tripp have firmly entered the legal tech world with the launch today of their new legal documentation service, employing artificial intelligence and marrying tech and legal expertise into a new service offering.
- 2 How it works
- 3 Changing Legal Landscape
- 4 >> See the ‘Get Smart’ Legal Feature –
- 5 >> See 7 Smart NZ Legal Operators Using Legal Technology – Read Here
Operated by the firm’s technology partner Bruce McClintock, Zeren also uses Cambridge University-developed Luminance machine-learning technology to speed up large scale documentation and contract reviews.
The onset of machine learning, artificial intelligence and other applications is transforming the way legal services are delivered, as LawFuel recently reported in our “Get Smart” law tech survey.
However, the move by major firms like Chapman Tripp is highly significant due to the firm’s dominance in the commercial sector and its array of existing legal templates that can be used via the Zeren platform without necessarily using Chapman Tripp lawyers when processing documentation or handling commercial contracts.
“Technology is changing the delivery of legal and other business services globally, and this – along with globalisation and competition – means lawyers’ time is transforming into legal products and online services,” Bruce McClintock said in a statement released today.
“Zeren combines Chapman Tripp’s unique legal, client and business knowledge with technology, meaning legal and quality assurance is built in. Clients get a Chapman Tripp-quality document, without having to go through a Chapman Tripp lawyer every time.”
How it works
The new services operates as clients automatically generate legal documents by filling out dynamic, web-based forms created from their existing legal and business templates, or from existing templates developed by Chapman Tripp.
The Zeren/Chapman Tripp release explains –
This process includes workflows to trigger internal reviews and approvals or to connect with external stakeholders. Clients can store their documents, as well as capture the data they contain, to improve activities such as contract management, risk management and other business processes.
This means businesses can produce and access various legal documents – from legal contracts and letters to other advice – faster, with greater accuracy and reduced cost. This frees up time for higher value and strategic work, and reduces reliance on in-house legal teams or external firms for lower value tasks.
“As an example, one of our banking clients has used Zeren to automate its customer facing lending
variation letters. With a refreshed and newly automated template, they now generate thousands of letters a month, which are more customer-friendly and better set up for legal compliance than ever before” says Tim Sherman, projects lead for Zeren and senior associate at Chapman Tripp. (Tim Sherman is due to become partner on 1 December 2017).
Zeren also gives clients access to artificial intelligence and machine learning technology to speed up large scale document reviews, such as M&A due diligence. Zeren and Chapman Tripp’s AI service, Luminance clusters and classifies data in a way that project teams can immediately prioritise their review. The more the technology is used, the more effective it becomes, greatly increasing the efficiency of due diligence. Luminance is also used by Gilbert +Tobin and Corrs Chambers Westgarth in Australia, along with international firms such as Wong Partnership and Slaughter and May.
Changing Legal Landscape
The move into the new technology, being driven by a law firm also, is something that is increasingly occurring among law firms who are increasingly shaking off their old-fashioned, fusty style, embracing and innovating to develop new legal services and platforms.
Firms, such as Orricks, have developed their own ‘skunk works’ to develop workflow solutions and other services and service delivery mechanism.
The Chapman Tripp initiative demonstrates that the initiative of kiwi firms is also alive and well – and growing.