- First partnership of its kind reflects growing ‘Law-as-a-Service’ trend.
- Law firm will offer an out-of-the-box ‘playbook’ for NDA review to ThoughtRiver customers.
- Users can review contracts on ThoughtRiver’s platform against the robust Taylor Vinters policy.
London, UK. November 28th, 2019: ThoughtRiver, the market leader in intelligent contract pre-screening, has announced that it has partnered with international law firm Taylor Vinters to offer a new contract review and risk assessment as a service to its customers.
Users of ThoughtRiver will be able to review contracts using a Taylor Vinters approved standard via a simple on-platform purchase. The accumulated legal knowledge and experience of the Taylor Vinters team has been codified based on ThoughtRiver’s Lexible framework so it can integrate with the ThoughtRiver platform seamlessly.
Leveraging on the speed of ThoughtRiver’s underlying contract pre-screening application, Taylor Vinters, an existing investor in ThoughtRiver, will be able to offer legal services not only at a more affordable rate for businesses but also in a fraction of the time of a traditional consultation process.
The partnership will begin with ThoughtRiver offering a full-service package to customers looking for advice on the 3rd party non-disclosure agreements (NDAs) that they receive.
“This new technology allows us to take a pioneering step forward within the professional-level legal services landscape - to position law as a commercial service model.” said Matt Meyer, CEO, Taylor Vinters, “We’re excited to have worked with ThoughtRiver to develop cutting edge new business and technology frameworks which will have a genuine impact on the service we can provide to our clients, opening up what we have to offer to a much larger audience.”
Tim Pullan, CEO of ThoughtRiver, commented: “We’re delighted to announce the first of what I’m confident will be many partnerships of this nature. Taylor Vinters is an entrepreneurial trend-setter in its own right, and I’m proud that we will be extending our close working relationship ever further, while democratising the availability of legal services to the wider public and businesses.”
This latest news follows a series of firsts for ThoughtRiver. In September, ThoughtRiver announced an integration with data visualisation system Tableau to boost contract risk analysis for its clients, as well as the launch of its Microsoft Word plug-in, which gives legal professionals the ability to automatically review and remediate contracts directly within Microsoft Word.
ThoughtRiver is a legal tech company that addresses a fundamental problem for in-house counsels and lawyers: you don’t know whether you need to read a contract without reading it. ThoughtRiver’s contract pre-screening technology uses machine learning and legal intelligence to automate the initial scan and analysis of contracts to produce an actionable recommendation on what to do next with the contract – and why. This is similar to a manual checkpoint review, only faster and provides an organisation-wide view of all contractual risk. Headquartered in Cambridge, ThoughtRiver works with in-house legal teams, general counsels and law firms, and is funded by LocalGlobe and Crane Ventures. Find out more: www.thoughtriver.com.
About Taylor Vinters
Taylor Vinters is an international law firm supporting the businesses which drive the innovation economy, and the entrepreneurs and private wealth that underpin them. The practice is global, operating from innovation clusters in the UK, Asia and the US. With 28 partners and 80 lawyers across their offices in London, Cambridge, Oxford and Singapore, and more to come in New York City, Taylor Vinters helps entrepreneurial clients make great things happen, whatever their size and sector. Taylor Vinters is a full-service law firm, as well as an investor in legal technology and artificial intelligence, and is a shareholder in legal tech company ThoughtRiver. Learn more about Taylor Vinters here: www.significant-times.com.
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