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Legaltech company Contractbook launches new digital tool
Continental Europe News

Contractbook logoFill out a simple questionnaire and receive a digital contract that is both legally valid and insured just a few minutes after. Creating a Will agreement is going to be that easy with Contractbook’s new contract drafter. The new DIY-tool is the latest addition to the software company’s impressive stack of legal tech solutions that already comprises a contract management platform and a client portal for law firms.

The new drafter is targeted towards law firms that wish to automate the contract generation and create more scalable business models for the digital economy.

”There is a precedence in the market for such solutions already. We just don’t see why each and every law firm should spend thousands of dollars and man-hours to each develop their own drafter. That is why we have developed a flexible plug-&-play model that law firms can subscribe to and tailor to fit their specific needs. In this way, also the smaller law firms can get access to those tools,” says Niels Martin Brøchner, CEO in Contractbook.

The drafter is developed in collaboration with the Danish law firm STORM Advokatfirma who is also the first buyer. They will use the technology to offer their clients digital will agreements that they can create anytime and at a competitive price since the process is automated in the lawyers’ end.

”Today’s legal consumers want digital solutions and they prefer to do things themselves if it saves them time and money. This demand is being met with our digital will-drafter. The solution will be more flexible than a traditional contract template. At the same time, it is a scalable solution for us is it doesn’t depend on normal office hours,” says CCO in STORM Advokatfirma, Lars Lyngdal. They are already looking into other practice areas where they can apply the drafter.

Legal IT Today #26

Drafters have become more common in the market as legal consumers are getting increasingly familiar with digital self-service solutions. For law firms, these solutions are both efficient and scalable as they generate revenue automatically when they are set up. The attention is evident to Contractbook that has progressed negotiations or done deals with law firms in Denmark, Norway, Netherlands and Austria.

“There is a lot of focus on drafters at the moment. But most of the solutions on the market are not very user-friendly. They are advanced, but to be honest, many of them look like something from Windows 95. Our expertise as a tech-company is to deliver functional, well-designed and userfriendly solutions that are safe and easy to use. We have achieved a drafter that is all that with the help from STORM. It proves that it pays off when law firms and legal technologists collaborate and utilizes each other’s talents,” Niels Martin Brøchner concludes. 

 

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