By Legal Futures Associate Litera
Litera, a global leader in legal technology solutions, has announced powerful new additions and significant enhancements to its robust library of software products with deeper integrations and intuitive easy-to-use generative AI (GenAI) powered applications. Litera’s overarching aim is to meet lawyers where they work today with lightweight and integrated experiences across multiple devices. These enhancements reinforce Litera’s position as a catalyst for transformative advancement in the legal sector for nearly 30 years.
“With the launch of Litera Add-in in both Microsoft Word and Outlook, our core enhancements in Drafting and the expansion of Dragon and Kira, Litera is innovating squarely at the intersection of the business and practice of law – something no one else in this industry is doing,” said Litera CEO Sheryl Hoskins. “When it comes to innovation, we want to enhance every part of the lawyer workflow from drafting and contract review to knowledge management and business development.”
By reimagining the integration and functionality of essential drafting, contract review, and firm performance tools within Microsoft Office, Litera Add-in simplifies a firm’s technology stack and equips users with redefined workflows and insights that enhance drafting efficiency. Available as an Office Add-in interface for Microsoft Word and Microsoft Outlook on any internet-connected device, the Litera Add-in beta in Word currently supports proofreading and comparison and the Litera Add-in in Outlook supports metadata cleaning. Additional experiences for end-to-end document drafting, AI-based contract review, search capabilities across firm intelligence and experience data will be released throughout 2024 and 2025. Since announcing a deeper collaboration with Microsoft in May, Litera Add-in paves the way for Litera to expand core workflows across its drafting suite and add additional GenAI capabilities to integrate with Copilot to win new business and enhance client satisfaction.
“At Litera, we’re committed to deeply enhancing our core solutions while also developing powerful integrations and innovation to deliver connected workflows that meet lawyers where they work,” said Litera Head of Product Adam Ryan. “For example, by being able to tap into your firm’s collective knowledge and experience while drafting allows lawyers to immediately identify market standard position to enhance their drafting processes, all from within Microsoft Word.”
Litera has also expanded Foundation Dragon, launched earlier this year, with our new Real Estate Purchase Agreement deal type. Foundation Dragon enriches client service with data-driven insights, giving lawyers a competitive edge in negotiations with a comprehensive 360-degree view of what’s market. Litera’s approach is to work with our internal industry experts and our customers to define a comprehensive set of deal points for a particular practice type. This gives firms out-of-the-box access to industry standard templates for each area of law as opposed to custom solutions that are difficult to maintain long-term. Our M&A profile was also developed to conform with the ABA’s M&A deal point study. Foundation Dragon will continue to expand with additional document types such as credit agreements and venture capital to empower lawyers to advise clients with confidence, approach negotiations strategically, and quickly identify precedents for future transactions.
“As an early adopter of Foundation Dragon, we felt confident that Litera would appreciate our feedback, which they took and very quickly incorporated to improve the tool,” said Casey Rauschenberg, Experience Manager at Frost Brown Todd. “Dragon makes the practice of collecting real estate data even more efficient and helps us offer better and faster answers to our clients. Dragon helps us punch above our weight as a firm and we’re giving our lawyers access to better data than they’ve ever had before.”
Kira’s new Rapid Clause Analysis provides turbo-powered comparisons and actions on clauses across documents or selected templates in one step. With Rapid Clause Analysis, legal teams can instantly identify identically drafted clauses across all documents in a project; simultaneously take actions that apply to all identically drafted clauses, such as tagging, flagging, and generating summaries. This breakthrough feature allows lawyers to further accelerate their contract review process and flag potential issues across a broader document set more quickly. Rapid Clause Analysis will be available to all Kira customers at the end of August.
Discover how Foundation Dragon can help your law firm manage data HERE. Additional information on Litera Add-in can be accessed HERE. Attending ILTACON 2024? Meet our team during exhibit hours at Booth #201 to watch demos of Litera Add-in and Foundation Dragon, and experience firsthand how Litera innovations #AmplifyImpact, allowing you to focus on what truly matters in your professional journey.
