We are proud to announce that Reed Smith’s Knowledge Management team has been recognized at the 2021 American Lawyer Industry Awards for its Now & Next initiative and a suite of groundbreaking innovations developed over the past two years. This honor highlights the team’s commitment to addressing emerging legal needs through technology-driven solutions, many of which were developed in collaboration with Gravity Stack.
Now & Next Initiative
Launched during the pandemic, the Now & Next initiative was designed to address the evolving legal needs of our clients. This tech-building program has enabled us to develop and deploy innovative solutions quickly, ensuring our clients can navigate unprecedented challenges effectively.
Key Innovations Recognized
- London Interbank Offering Rate (LIBOR) Documentation
One of the standout achievements is the development of an AI-driven Contract Lifecycle Management (CLM) solution by Gravity Stack. This solution facilitates the repapering of contracts affected by the cessation of LIBOR, providing a seamless transition for our clients and ensuring compliance with new financial regulations. - Insurance Policy and Endorsement Clause Analysis
The team has also enhanced Gravity Stack’s diligence tool to extract insurance policy wording relevant to COVID-19 related issues. This advancement helps clients understand their coverage and manage risks associated with the pandemic more effectively. - Fintech Legislation Tracker
In response to the rapidly evolving regulatory landscape, we created an automated tracker for more than 30 congressional bills relating to crypto, blockchain, and fintech. This tool provides our clients with real-time updates on legislative developments, helping them stay informed and compliant. - Remote Proceedings Best Practices
Our Knowledge Management team has compiled best practices for remote proceedings, including discovery, mediations, and oral arguments. This project leverages the collective knowledge of our litigators to bring consistency and quality to our remote legal services, ensuring that we continue to deliver exceptional results for our clients.
These accomplishments reflect our ongoing commitment to innovation and excellence in legal services. We are grateful for the recognition from the American Lawyer and extend our thanks to our clients and partners for their continuous support.
We look forward to continuing our journey of innovation and delivering cutting-edge solutions that meet the evolving needs of our clients.
