https://vdrdatahub.net/legal-transactions/

Legal transactions are the core of business and constitute an integral part of the legal practice. They involve the exchange of goods or services, which create binding obligations on all parties that are involved. These agreements are recorded by contracts that are legally binding, and which define the terms of transactions. Legal transactions encompass all types of purchases and sales whether they’re between two companies or between consumers and individuals. Certain transactions aren’t commercial, like successions, property transfers or family law cases.

A legal transaction can comprise a variety of documents, as well as a variety of deadlines, terms and requirements. The negotiation and execution of the transaction requires coordination among multiple teams. A junior associate in a large law firm might work with tax attorneys on complex transactions, with antitrust counsel for distribution arrangements, and with intellectual property lawyers to negotiate licensing agreements for trademarks or patents. Legal tools for research are also complicated. They comprise secondary and primary sources, like statutes and forms, precedents, regulations and checklists.

The traditional ways of completing and closing legal transactions can often cause significant inefficiencies. For instance, due diligence demands an army of attorneys to go through thousands of documents and files. This can be costly, time-consuming and inefficient. But it doesn’t have to be. Legal technology has developed to improve efficiency, transparency and order to the transactional process. Doxly is the solution, a comprehensive platform for legal transaction management that allows lawyers to securely save, manage and review all documents in a deal at any point and then share the documents with team members and clients to view and discuss.