2 minute read | June.13.2023
Orrick recently advised legal services company Factor on a strategic alliance with LegalSifter.
Factor helps corporate legal departments and law firms handle the increasing demand and complexity of transactional legal work like contracting. LegalSifter is dedicated to bringing affordable legal services to the world by empowering people with artificial intelligence and human expertise.
The partnership follows a strategic investment into LegalSifter from Factor and Carrick Capital Partners (Factor is a portfolio company of Capital Partners).
The alliance brings together the global scale of Factor and the innovative technology of LegalSifter to drive better outcomes for clients.
Factor negotiators will use the LegalSifter Review tool to speed handling of counterparty contractual provisions and mark-up based on client-specific legal guidance Factor also will use LegalSifter to streamline playbook creation and maintenance, enabling greater consistency and integration across each client’s environment.
“AI holds great promise to boost the ability of lawyers and others to negotiate better contracts in a more standardized way,” said Jessica Block, executive vice president of market solutions at Factor. “We see opportunities for multiple, high-impact use cases as we evolve Factor’s Integrated Contracting Platform, ranging from smart legal front-door and no-touch/low-touch capabilities to concierge-assisted contracting to full-service, lawyer-led contracting negotiations.”