FIS Horizons 2023 Brochure - Riding the wave - Flipbook - Page 27
Legal tech solutions
On this page we have summarized some
of the key technology tools which we are
using to improve the way we deliver legal
services and collaborate with our clients.
We would be happy to discuss further the
way any of these might be used by you.
Collaborate
We have long used custom-built extranets as
a repository for project documentation and
information. Collaborate is the next step forward
in this area, an innovative platform that
combines the traditional functions of a data
room with an online interface that enables live
collaboration between the in-house and Hogan
Lovells teams and makes it easier to capture
and share knowledge as projects develop.
Contract generation - DraftXpress
Our document automation service, DraftXpress,
helps to automate the repetitive elements of
transactional documents, allowing the in-house
and Hogan Lovells legal teams to focus on
bespoke drafting. By answering a simple online
questionnaire, you can quickly and easily
generate a first draft. This significantly reduces
drafting time, creates a consistent approach to
document drafting across teams and
jurisdictions, enables suites of documents to be
automated and provides quality assurance.
DriveChain
DriveChain, is a new tech product developed by
Hogan Lovells which has which has applicability
across all sectors. DriveChain was recognised as
“stand out” for Digital Legal Services at the FT
Innovative Lawyers Europe Awards in 2022.
DriveChain-enabled ‘smart documents’ can be
summarised, reported on and automated into
virtually any document, contract, or asset
management software application in seconds. It
then harnesses enterprise blockchain technology
(via Integra Ledger) to securely verify
documents, enabling automated peer-to-peer
processing of the data with absolute confidence.
It is the first ecosystem-wide, software agnostic
document and contract automation technology
to deliver transaction efficiencies for clients, and
with 100% accuracy. If you would like to discuss
how DriveChain can help your business, please
do get in touch.
Due diligence and contractual analysis - Kira
Kira is a contract review tool that, when trained,
identifies and extracts legal concepts from
contracts to speed up and make more efficient
due diligence and document review exercises.
Information is extracted into a searchable format
that links back to the original document and
enables the review to identify documents that
contain relevant clauses that may require more
in-depth review without the need to read
through all the documents.
We have also partnered with FTI Consulting to
combine our talents in legal analysis with their
expertise in mining information from large
volumes of contracts and other data sources.
Our collaboration produces sophisticated results
while facing tight deadlines and cost constraints.
Litigation outcomes
We are also employing cutting edge tools to
conduct research and assess potential outcomes
in litigation, including Ravel Law, Lex Machina
and Prism. Prism is our Early Case Assessment
(ECA) service, which provides early in-depth
analysis of a dispute for a fixed fee within 30
days. Using online software we take instructions,
agree the scope, the action points, the timetable
and fix the price of the ECA. A note of all of this is
generated immediately and given to the client.
Prism won the British Legal Awards 2016,
Innovation Legal Services category, where it was
described as “something genuinely new that
actually helps clients.”
