Gilbert + Tobin today announced the sale of its in-house proprietary verification software to Litera, a leading global provider of software for law firms and legal teams.
The acquisition by Litera will enable the ongoing development of the verification tool invented by Gilbert + Tobin and enhanced over a number of years. It complements Litera’s existing technology suite, which streamlines the process of managing transactions within a secure, collaborative workspace.
The Gilbert + Tobin tool digitally verifies disclosure document statements, provides real-time data on the verification status, and syncs verification changes into a master document. It creates efficiencies through the automation of the verification process making it less labour-intensive. The result is faster, more efficient and accurate verification of documents.
Gilbert + Tobin’s Legal Service Innovation and Technology teams, in collaboration with its market-leading Corporate Advisory and Intellectual Property teams, took an entrepreneurial approach to creating and protecting the verification tool to improve both lawyer and client experience of the verification process and generate significant time savings. In developing the tool, Gilbert + Tobin has demonstrated its continued commitment to harnessing technological innovation to meet internal and client needs in a streamlined, timely and more efficient way.
Commenting on the sale, Partner + Chief Knowledge and Innovation Officer Caryn Sandler said, “It has been a rewarding experience to see this tool evolve from an original idea into a sophisticated technological product. With our team’s dedication and expertise, the tool is now ready for the next stage in its journey, in the capable hands of a leading global legal technology company. To my knowledge, Gilbert + Tobin is the first and only law firm to have developed and sold its own software of this kind to a company such as Litera. As a firm with a strong commitment to innovation we will continue to develop and leverage our IP.”
Rachael Bassil, Partner in the Corporate Advisory team, said, “We are excited to see the tool go from strength-to-strength under Litera’s leadership. Litera can appreciate the tool’s potential. We look forward to seeing more clients and lawyers benefit from this technology, enabling them to work smarter and focus on their commercial objectives.”