This Blog addresses the use of document assembly in the Corporate Law Department of a large firm. It explore the type of documents in such a department that might be amenable to automation.
The chart below shows a range of documents that form the bread an butter of a corporate law department providing general business and transactional advice. Each of the documents below can involve anywhere from 10 to 100 hours to draft. Once automated, a solid high-quality first draft of these same documents can be produced in less than 30 minutes, dramatically increasing the firm’s competitive edge and opening the possibility of substantial profits from value billing.
|Low||High||Low||Advertising and Promotion Agreement|
|Low||High||Low||Alliance and Co-Marketing Agreement|
|Low||High||Low||Bioprocessing Services Agreement|
|Low||High||Low||Campaign Management Services Agreement|
|Low||High||Low||Collateral Assignment and Security Agreement|
|Low||High||Low||Content License and Co-Branded Area Agreement|
|Low||High||Low||Interim Linking Agreement|
|Low||High||Low||Joint Marketing Agreement|
|Low||High||Low||Manifest System Services and Co-Branding Agreement|
|Low||High||Low||Manufacturing and Supply Agreement|
|Low||High||Low||Media Placement Services Agreement|
|Low||High||Low||Order Fulfillment Agreement|
|Low||High||Low||Web Advertising Services Agreement|
|Low||High||Low||Website Affiliation Agreement|
Value measures the value of the document in terms of potential markup based on time to do the document without automation. High would be over five thousand per document; moderate would be over a thousand; low would be in the hundreds per document.
Volume is the likely volume in a given year. Low would be once a month; Moderate would be once a week, High would be daily or more frequent.
Investment is the amounts of time it would take to automate the document to 90% effectiveness. High would be over 250 hours. Moderate would be over 50 hours. Low would be anywhere from an hour up to 50 hours.
Document Type is the name or category of documents that to be automated