By Richard Tyler
The world’s largest law firms have spent the past 12 months engaged in a bloody battle over control of legal cyberspace.
UK giant Linklaters edged ahead for a while with the launch of Blue Flag Confirms, which allows derivatives transaction managers to automatically build “confirm” documents on-line automatically.
Not to be outdone, arch-rivals Clifford Chance and Allen&Overy both revealed internet-based transaction management products – dubbed “virtual deal rooms” for cross-border transactions.
Allen&Overy’s newchange.com also came with an attractive new “modular” documentation system, an innovation the firm claimed cuts the time taken to draft documents by 95%.
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