Toronto (Canada) – Fasken has adopted Kira Systems’ software to increase efficiency in contract review. Kira Systems’ state-of-the-art machine learning technology, Kira, will be used for contract analysis. It has been trusted with billions of dollars of transactions and tested by thousands of users on millions of documents.
Fasken will deploy Kira to assist on a variety of projects including due diligence and analysis of clients’ contractual obligations. Kira has more than 430 built-in models to identify common contract provisions and can learn additional models specific to Fasken. Once provisions are identified, they are automatically extracted into a summary chart, allowing Fasken lawyers to easily compare information across documents.
“We are continually reviewing how we provide legal services to meet the expectations of our clients,” said Peter Feldberg, Firm Managing Partner. “Through proven technology like Kira, we can offer more efficient contract review.”
“Engaging Kira provides a second set of eyes on documents, reducing risk and increasing accuracy despite short timelines,” said Robert Garmaise, Chief Innovation Officer. “The highest standards of information security are met, from storage to sharing and deleting data.”
Engaging in technology partnerships is one way Fasken is changing how we provide legal services. Our Corporate Finance and Securities and Mergers and Acquisitions groups were the first at Fasken to use Kira. They provide services for unique deals globally across a variety of industries including mining, energy, life science, transportation, agribusiness, financial institutions, investment funds, telecommunications and technology.
“We are excited that Fasken will be using our software to augment their already exceptional client service across so many of their practice areas,” added Rob Armbruster, Account Director at Kira Systems. “Their focus on innovating for clients is well known, and we are thrilled they chose to work with Kira.”
Fasken is a leading international law firm with more than 700 lawyers and 10 offices on four continents. Clients rely on us for practical, innovative and cost-effective legal services. We solve the most complex business challenges, providing exceptional value and putting clients at the centre of all we do. For additional information, please visit our website at fasken.com.
About Kira Systems
Kira Systems’ technology is the most used and trusted software for contract review and analysis, helping the world’s largest corporations and professional service firms uncover relevant information in documents. Kira is powerful, patented, award-winning software that excels at searching and analyzing contract text and can be deployed for due diligence, knowledge management, lease abstraction, regulatory compliance and other projects where visibility into contract provisions is critical. Using Kira Quick Study, anyone can train additional models that can accurately identify virtually any desired clause. To find out more, please visit kirasystems.com.