Well-functioning legal systems are critical for a prosperous society as we all must deal with a series of legal documents for our daily duties (contracts, business proposals, powers of attorney, wills, etc.). When it comes to business, millions of companies need to create documents every day (a mid-size company manages around 6,000 legal document per year), but the most surprising fact is that 99% of them, even law firms and law departments, still creating legal documents manually, doing it from scratch or by replicating templates. This means that legal documentation is an intense duty and lacks automation, resulting in time inefficiency, human errors and a huge amount of paper consumption (each person in a law firm uses approximately 125 Kg paper/ year). Overall, economic losses related to these problems are estimated at 5%-40% of a company’s annual revenues, representing a massive burden that unnecessarily damages profits and competitiveness of all kinds of companies. It wastes natural resources, destroying forests and polluting the environment.
Bigle Legal is a new software tool that integrates artificial intelligence features to enable the next-gen document automation. The rationale behind our solution is that the same type of legal documents share a common semantic legal terminology. Thus, Bigle Legal understands what the document is and what the users wants, building automatically legal documents, facilitating their completion, review, shipment and digital signature in a paperless environment, transforming the way companies manage legal documents. According to our preliminary experiences, Bigle Legal increases 12x time efficiency, reduces 11x operative costs while avoids 100% of human errors compared to current legal documentation management processes.
We have planned several activities to bring Bigle Legal to TRL8 and to ensure a successful commercialization. Technical objectives include (i) the optimization of our artificial intelligence features to automate the assembling of document templates; (ii) to create a range of versions to cover the specific needs of our customers; and (iii) to adapt our algorithms to different languages. Other activities involve a revision of the business strategy and distribution agreements, the development of commercial materials, website and newsletters.
