Our own Ian Sinclair, Manager of Review Services, was published in the Canadian Corporate Counsel Association's most recent issue of CCCA Magazine. His article, Spark (Contract) Joy Through Innovation, provides an insightful narrative on how he embraces innovation in his role each day. Ian also shares his candid experiences of helping clients overcome their contract challenges using AI-driven contract analysis software since he joined our team last year.
Innovation takes a village. Legal departments that succeed in implementing it must cast a wide net and build teams that have legal, project management and technology members working together. They must be open to working with outside partners. They need to think ahead about their needs and changing technology and keep an open mind to emerging solutions.
Written by: Ian Sinclair for CCCA Magazine
"We don't know where the contracts are located. We've never tried to locate all of them," answered the executive of a major Canadian financial services firm. "We don't have an objective yet. We just know that it's information that we might want to view ... at some point." I had just briefed the executive on a new, Al-driven contract analysis tool. The answers above were to my questions about the storage and organization of the company's contracts and, more pointedly, what they might be looking to accomplish with this innovative tool...
My task was three-fold: assess Heretik's capabilities, provide recommendations and evaluate a partnership. I came to the task somewhat experienced, as I had previously used a popular contract analysis software for M&A due diligence. To test Heretik, I launched a mock lease abstraction exercise. I noted strengths, limitations and improvements in colour-coded tables. I awkwardly recall the importance I placed on the aesthetic appeal of my report. Trust me when I tell you, it was very pleasing to the eye.Read the full article in the CCCA Magazine's 2019 Winter issue.