In 2014, Kim Simmonds founded Law 365, dedicated to Microsoft Partners, providing them with essential legal advice.
Law 365 was one of the first firms to offer Legal-as-as-Service (LaaS), a subscription based on the SaaS model. Clients found the model familiar and scalable as they grew their businesses. Kim grew the business while the world was in lockdown – growing the firm to over 25 employees and 150+ clients.
Kim realised that she could extend her offering to all technology businesses using Machine Learning and AI, democratising access to content creation, review and management. Today we're delighted to deliver those services to you with Cloud Contracts 365.
A vision of a better future for legal services using AI
Kim decides to invest heavily in legal AI to improve services to technology businesses.
Her goal? To create a solution that would deliver much more than a simple contract template.
It needed to be affordable and fast and secure, and it also needed to serve technology businesses with tailored legal advice that fit their needs.
Microsoft Partner research
Law 365 partnered with Incredible Results, conducting extensive interviews with 50+ prominent Microsoft Partners.
Feedback revealed many were only using law firms for the "big" or "risky" contracts, leaving them exposed and vulnerable.
Everyone interviewed knew they shouldn't be cutting corners, using free templates and reusing old contracts, but lacked the resources to do contract management properly.Read the research
Top requirement? To serve technology businesses
Artificial Intelligence seemed an obvious choice because it excels at dull, repetitive tasks, working tirelessly and meticulously 24/7. But that alone wasn't enough…
Large Language Models (LLM) such as Chat GPT are only as accurate as their source – the internet. Their quality can be diluted by poor information.
Law 365 would need to train their own legal tech to using AI, Machine Learning (ML) and, to guarantee quality and accuracy, Natural Language Processing (NLP).
LawyerBot Proof of Concept
The first step was to create the proof of concept.
The tool would review a Non-Disclosure Agreement (NDA) and generate a risk score, showing you where the risk was in the contract and offering solutions.
It was called LawyerBot and when it was introduced to Law 365's clients, they loved it!
The Dream Team
With success in sight and the next step was securing funding.
Law 365 applied to Innovate UK and won a substantial grant, making it possible to hire the team to bring the vision to life.
With another technical architect, UX/UI designer and NLP data scientists on board, work began in earnest.
Many hours of technical development and many hours of work with the Law 365 lawyers went into training the tool to work for technology businesses.
Cloud Contracts 365: Everything under one roof
The perfect solution for technology businesses – contract creation, contract review and contract management with the ability to sign electronically — all the essential contract tools you need under one roof.
We hope you enjoy using the contract tools that we have created for you, using AI and machine learning plus, importantly, the brain power and experience of our lawyers and tech specialists.Get Started