Global MedTech Manufacturer

Support review of NDA contracts by business users by identify the risk from changes provided by 3rd-parties and providing rewording suggestions for specific contract clauses

Challenge

• The legal function are spending a tremendous amount of time to support business stakeholders with legal reviews of standard Non-Disclosure Agreements (NDAs)
• NDA reviews are a rather standardized process but rely on legal knowledge and jargon specific to client
• Ambition is to test GenAI capabilities to empower business users with NDA reviews, and potentially expand to other contract types

Solution

• GenAI solution comparing 3rd-party NDAs to internal terminology guidelines and golden NDA standard
• GenAI solution identifies risk from changes provided by 3rd parties, flagged specific sections deviating from the standard, and provides rewording suggestions for specific clauses

Business Impact

• Established a self-service NDA management for cases involving the review of the third-party NDAs and ensure its high quality
• Estimated annual savings of 730h for the Legal Function, allowing better allocation of resources & allowing them to focus on high-value and more complex work