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> one room At scale, almost no one has a "room." Think about a mortgage bank or cell phone provider, or a car insurance company. Even if they tried to use 'a
by Digory 9y ago
> one room
At scale, almost no one has a "room." Think about a mortgage bank or cell phone provider, or a car insurance company. Even if they tried to use 'a form', they have to manage hundreds of little details about millions of clients -- based on whatever version of the form was filled out, where they lived, where the product is used, has a deed or title been properly recorded, did the Supreme Court of State X strike down part of your agreement, has anyone sent a written complaint sufficient to trigger the Fair Credit Reporting Act, etc. We've all criticized big lenders who can't come up with proof at a hearing -- but that's because managing that much data is hard. Compliance/contract management software is still growing rapidly.
Second, another wave of tech for lawyers is taking huge databases of publicly-filed contracts, and suggesting clauses in agreements similar to yours. If 80% of compensation contracts filed by publicly traded companies say X, and your deal says Y, you'd like to know that.