Stark & Stark improves contract quality with Contract Tools
Stark & Stark needed a solution for drafting and reviewing hundreds of contracts a year. Contract Tools arms Stark & Stark’s attorneys with the tools needed to draft and review contracts more accurately and efficiently than ever before.
Stark & Stark has practiced business and commercial law since its founding by two brothers in the 1930s. Today, the firm employs more than 100 attorneys in six offices throughout New Jersey, New York, and Pennsylvania.
Stark & Stark’s Business & Corporate practice group drafts and reviews contracts for a wide variety of clients – from sole proprietorships to Fortune 100 companies – in almost every industry. The contracts that Stark & Stark drafts and reviews are just as varied: merger agreements, stock and asset purchase agreements, intellectual property licenses, business entity formation documents, employment agreements, and more.
Drafting and reviewing even one contract is difficult, requiring not only multiple close readings of dense legal text to check for problems, but also assimilating complex information spread across many pages – with the result that drafting a contract manually is tedious and error-prone, and critical information is easily overlooked.
Ensuring that every contract is totally error-free is a monumental task.
The broad scope of Stark & Stark’s practice makes these challenges more acute. As Stark & Stark associate Jonathan Wargo explains, “We draft and review hundreds of contracts every year, and ensuring that every contract is totally error-free is a monumental task. We knew there had to be a legal technology solution that significantly improved accuracy.”
The Business & Corporate practice group had several requirements for a contract drafting and review solution. The solution had to be versatile enough for a wide variety of contracts, clients, and industries; and powerful enough for the most complex, problematic contracts. It had to be simple to use with little or no training. And it had to integrate seamlessly with Stark & Stark’s existing software and workflows – especially Microsoft Word.
Jonathan Wargo first introduced Contract Tools to Stark & Stark in April 2018. Wargo initially used Contract Tools to finish a single contract on a tight timeframe, and then extended Contract Tools to his other work. Within a few weeks of Wargo introducing Contract Tools to Stark & Stark, Contract Tools was deployed to key members of the Business & Corporate practice group.
Attorneys at Stark & Stark rapidly adopted Contract Tools. “It’s very easy to get started with Contract Tools because it integrates with Word so well that it feels like an extension of that program,” Wargo explains. Stark & Stark attorneys now use Contract Tools daily to draft and review all kinds of contracts – on versatility, Wargo rates Contract Tools “ten out of ten.”
It’s very easy to get started with Contract Tools.
Stark & Stark’s attorneys have come to depend on Contract Tools’ features for their practice. “For navigating contracts, I can’t live without double-clicking defined terms; to make sure we’re sending clients error-free contracts, I can’t live without proofreading,” Wargo says.
Contract Tools’ proofreading features have proven especially valuable: “Error-free documents ensure professionalism and quality of service,” Wargo explains. These features also save Stark & Stark attorneys “a tremendous amount of time,” Wargo says.
Contract Tools saves us a tremendous amount of time.
Closely proofreading a 100-page contract takes about 3⅓ hours (about 50,000 words at a reading speed of 250 words per minute). Contract Tools proofreads a 100-page contract in about 3.6 seconds: a 99.97% reduction.
With less time spent manually proofreading contracts, Stark & Stark’s Business & Corporate attorneys now spend more time delivering value to clients.