Kemp Little wins prestigious FT Innovative Lawyers Award for 4Corners solution
Kemp Little LLP, the leading technology and digital media law firm, was last night crowned the winner of Innovation in the business of law: Technology at the FT Innovative Lawyers Awards. The firm was recognised for its development of 4Corners, a proprietary contract analysis tool that combines natural language processing of unstructured data with the firm’s own taxonomy system for legal opinions. The tool is improving how the firm services its clients.
4Corners is a system to present reliable legal opinions about any aspect of any contract, to businesses on a self-serve basis, in real-time. The technology provides detailed and client-specific legal opinions on linked agreements and documents. It flags conflicts between documents without input from a lawyer and can answer complex questions that could otherwise take weeks to resolve.
In April 2018, Managing Associate Rich Folsom identified the need to simplify complicated contracts into useable business data accessible to all while working on the sale of a financial services data business. Legal opinions were rapidly needed on a huge number of interlinked documents. Spreadsheets were creaking with the demands, and so he built a database to handle the complexity. The firm recognised the potential value in this opportunity, created a subsidiary, invested in significant further development and brought the technology to key clients.
Commenting on the success, Kemp Little’s head of commercial technology Paul Hinton said: “We are absolutely delighted to be recognised by the Financial Times at such prominent awards. We have a ground-breaking product with an innovative overall user experience. Nothing else gives this level of access, insight, quality and speed to businesses about their contracts. Congratulations to the team on this well-deserved award.”
For more information on 4Corners please contact firstname.lastname@example.org.
Erica Allen, Head of Central Marketing and Business Development
email@example.com 020 7710 1624
London EC2V 6BJ
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