For companies operating several departmental databases, there is the prevalent issue of decentralized contract management whereby contract information is scattered around the buisiness. And should a potential investor come along or a merger take place, that issue becomes a big problem – especially for the legal department. This very well could have been the case for Elisabeth Hondius, legal head of biopharmaceutical company, MSD. She recalls how she used to have enough difficulty finding information as it was before her company merged with another. A familiar plight for in-house lawyers everywhere, she says many departments would manage their own contracts, giving her little insight and control.
On April 30th, CodeX – The Stanford Center for Legal Informatics hosted the third annual FutureLaw 2015 conference, which focuses on how technology is changing the landscape of the legal profession and law as a whole. The program brought together academics, entrepreneurs, lawyers, and policymakers at the forefront of the technological transformation in the industry