Can Software Replace Lawyers?
by Paul Meyer | R-Tools Technology
A recent merger between Anheuser-Busch InBev and Grupo Modelo has shed some light on the merger process -- more importantly, the need for lawyers when going through a merger process. Typically, documents are sifted through and fine-combed by contractors hired by the US Justice Department. This time around, software was used instead.
A program developed by software company kCura was effectively used to go over merger details. Even though lawyers were still used to create those details, every last inch of the merger was scrutinized using kCura's software. This is the first time that the Justice Department has allowed software to take on a role that is usually performed by humans.
Hiring contractors to go over legal documents as part of a merger can cost 3-4 million dollars. With the new software from kCura, this cost has been reduced drastically. By using software to seal the deal, the process only cost those parties involved around 2 million -- that's a substantial savings.
Will the Justice Department use this software in every merger case?