Foley & Lardner LLP has been named a 2023 “Legal Technology Trailblazer” by the National Law Journal for its development of Foley Equipped, the firm’s document review system powered by customized artificial intelligence (AI) that streamlines the analysis, review, and revision of commercial contracts.
This recognition honors companies and products that are truly agents of change, using innovation to help ease the daily tasks of law firms and legal departments. The selection committee was especially intrigued by “how the tool [Foley Equipped] connects the firm with in-house law departments through integration.”
Foley Equipped was designed to create more efficiency in the contract review process. The system incorporates Foley’s playbook and advice notes commentary into an AI platform that is powered by ThoughtRiver, greatly streamlining the document review process.
The AI utilized in Foley Equipped is trained to identify categories of interest within a contract document and identify high-risk clauses, highlighting provisions that may be outside of commercial norms, and flagging when terms are missing. Depending on the client’s needs, Foley Equipped can be used by in-house counsel or by Foley attorneys to provide a more rapid review process.
Learn more about how Foley Equipped is saving time, cutting costs, and reducing risk here.