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TORONTO, ON, February 12, 2014 /24-7PressRelease/ -- DiligenceEngine Inc., whose software helps lawyers review contracts faster and more accurately, publicly launched their service on Friday, February 7th at the ReInvent Law Conference in New York City. DiligenceEngine's software automatically finds and highlights user-specified contract provisions, prepares summary charts, and includes workflow and data analysis tools to help users refine and understand results. The system also includes organizational tools to allow users to coordinate large review projects. In tests of experienced lawyers, a DiligenceEngine user was faster and more accurate than a lawyer reviewing contracts the traditional, page-by-page way.
"As a former top-firm M&A lawyer, I would have loved to have had our software back when I was practicing," said Noah Waisberg, CEO and Co-Founder, DiligenceEngine. He continued, "Traditional contract review is time consuming and prone to human error. Our software has caught numerous human diligence mistakes, and consistently speeds work. Simply put, lawyers using our system are faster and more accurate."
While this marks DiligenceEngine's public launch, the system has already been used by firms and companies on numerous deals, enhancing contract review in over $20 billion (USD) worth of transactions. The system has enthusiastic users: a junior associate at one large firm called it "tremendously helpful" after using it on a deal.
About DiligenceEngine - DiligenceEngine is a Toronto-headquartered company that builds software to help people extract information from contracts faster and more accurately. The company was founded in 2011 by former Weil, Gotshal & Manges LLP New York corporate lawyer Noah Waisberg, and Alexander Hudek, who holds a Ph.D in Computer Science from the University of Waterloo.
DiligenceEngine's software is free to try out, and is easy to get started with.
About ReInvent Law NYC - ReInvent Law NYC drew over 800 people to The Cooper Union Great Hall to discuss the future of law practice.
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