Transforming Contract Review and Markup: Dan Broderick on Constructed Futures
In a recent episode of the Constructed Futures podcast, host Hugh Seaton sat down with Dan Broderick, co-founder and CEO of BlackBoiler, to discuss the company’s patented software and its groundbreaking impact on contract review and markup within the construction industry. Read on for a summary of their conversation. Automating Contract Review and Markup BlackBoiler […]
How to Get More Attorneys to Adopt AI
Despite all the hype over ChatGPT and generative AI, the fact remains that lawyers largely have not adopted these tools into their typical workflows. Research released last month from Thomson Reuters showed that just 3% of respondents at law firms are currently using generative AI, while a third (34%) said their firm was still considering […]
Flowers are Blooming, and Construction is Booming
Spring has sprung! The sun is shining, and the birds are chirping, which means only one thing… construction projects are ramping back up and so is construction contracting. According to the U.S. census, construction spending during the first two months of this year totaled $260.8 billion, 5.9 percent above the $246.1 billion for the same period […]
The 3 Stages of Construction Contract Review
Construction contract review requires constant cycles of negotiation. Agreements between contractors, subcontractors and owners that describe the work to be carried out and payment terms are essentially reviewed three times, at the bid (pre-contract) stage, the negotiation (pre-execution) stage, and again during performance, with contract amendments continuing as the project is underway. This three-fold review […]
Using a Contract Playbook to Increase the Speed of Business
Typically, the buildout of a contract playbook requires many hours of work from a number of professionals within an organization. A playbook helps to frame a company’s contract negotiation tactics and procedures. This process typically involves stakeholders from across the company. Playbooks are used by myriad professionals – from lawyers and paralegals to contract managers, HR, procurement, […]
Construction Contract Blind Spots to Avoid in Negotiations
Contracts are the starting point of every successful construction project and can have a profound impact on the bottom line, making it important to avoid any construction contract blind spots. However, many subcontractors don’t review their contracts as thoroughly as they should for any number of reasons. They’ve been working with the client for a […]
Construction Contract AI Speeds Negotiations, Mitigates Risk
No matter what type of construction agreement you’re negotiating, contracts are often long and complex documents with a lot of legal jargon. When you’re dealing with so many complex details, it can be easy to make mistakes or overlook important clauses. Construction contract AI technology can help make the contract process easier for everyone involved. […]
5 Ways Natural Language Processing Improves Contracts
Organizations are increasingly leveraging machine learning and natural language processing (NLP) for contract review, an inherently tedious process that requires strict adherence to specific legal language and corporate objectives. In legal practice, some workflows that require human execution, such as contract review, can benefit from automation made possible by natural language processing, a component of […]
