Efficiencies of Generative AI in Contract Negotiation

Almost exactly one year ago, a new legal tech startup, The Contract Network, came out of stealth, with a mission to “radically accelerate the time for contract negotiations'' through an AI-powered contract collaboration platform where all parties to a deal engage in a secure and neutral environment. 

The company’s cofounder and CEO, Jim Wagner, is a legal tech veteran with a track record of starting and leading successful companies in contracting and e-discovery, including having cofounded the e-discovery company DiscoverReady, having been president of the contract management and analytics company Seal Software, and, after Seal was acquired by DocuSign, having been vice president of agreement cloud strategy there. 

With The Contract Network, Wagner aims to “change contracts for good” by solving the problem of contract negotiations taking too long and lacking tools for real-time collaboration, communication and transparency among all parties. On today’s LawNext, Wagner is our guest, to talk about what he sees as broken with the traditional contract negotiation process and how The Contract Network offers a better option. Given his 30-year career in this industry, he also shares his thoughts on how it has evolved and where we are today. 

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• Paradigm, home to the practice management platforms PracticePanther, Bill4Time, MerusCase and LollyLaw; the e-payments platform Headnote; and the legal accounting software TrustBooks.

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