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    4Corners

  • Our flagship product is called 4Corners - because it captures everything within the four corners of your contracts and documents.

    4Corners is a modern contract analysis tool.


    It is an information layer that sits on top of your existing document system. It is a single source of truth for legal, procurement, sales, audit, and the 'business' holding information and legal advice about your documents, contracts, the assets or products you trade, and how they are used.

    These are aggregated and linked to allow the business’s key contract questions about data or products to be easily answered. At the click of a mouse. Without hunting for the relevant contract, or doing fresh legal analysis.

    4Corners helps businesses save money and reduce risk.

  • Awards!

    We're delighted to have won the FT Innovation in the business of law: Technology at the FT Innovative Lawyers Awards this year for 4Corners with the highest overall score across all categories.

     

    Great to be recognised in such a competitive field.

    Collaboration with EOSE

    KLT is delighted to announce it's collaboration with market data product development consultancy EOSE.

     

    We're really excited to bring together EOSE's data commercialisation expertise with the organisation, structure and access to legal insight of 4Corners.

  • Nothing quite like it.

    The 4Corners difference

    Grouped

    In the real world, contracts don't sit alone - they are in families and frameworks, they have statements of work and purchase orders, and they get varied and amended as you go.

     

     

    4Corners gives you the whole contractual landscape, not just what a document in isolation says.

    Reliable

    Information that might be right is not valuable. Most AI review systems suggest the text that may relate to a query - it is unlikely to categorise the answer, guarantee accuracy, respect ambiguity, or add wider context.

     

    4Corners is populated with accurate, complete and reliable information - that can be used and relied upon in the same way as if fresh external legal advice had been requested.

    Detail

    Contracts are more than dates and fees. Contract management systems generally focus on procurement requirements only.

     

     

     

    4Corners typically samples over a hundred areas of legal analysis - giving rich, thorough instant insight.

    Structured

    Isolated analysis has limited use. You want to look across the business, as well as into particular deals.

     

     

     

     

     

    4Corners groups and categorises deals and documents allowing filtered reports based on bespoke criteria.

  • What could 4Corners mean for you?

    Faster business support

    wood from trees

    Issue

    A new branch is opening up in New York to provide customer support. The business gets in touch to ask if an existing software licence will cover the 10 new desks.

     

    Solution

    You log onto 4Corners, select the software in question, and pull up a report. You can see straight away that:

    • there are 4 agreements with this vendor;
    • the London licence agreed last year is site specific, and permits 8 named users; and
    • the vendor was granted extended audit rights as part of the GDPR amendments last year; but
    • the original agreement allows for research, and back-office use, without location restrictions.
    You go back to the business in 5 minutes confirming no new licence is needed for customer support - without having to read those documents, without having to decide if other documents might apply, without having to understand the conflict positions between those documents, and without having to interpret the documents yourself.

     

    More sales

    gold in them there hills

    Issue

    Your business licences data directly to its customers. You have 5 main products, plus a series of legacy products which are still supported and legacy customer agreements - often with your biggest customers.

     

    Each year your compliance team audits a selection of customers, and works with the sales team to put in place new contracts fitting the customer's use case.

     

    Solution

    At the start of each quarter, compliance and sales load up custom reports in 4Corners setting out which agreements renew in the next quarter, what products are licensed, what licensing use case is permitted by the customer in respect of each product, what the audit provisions state, and what the current fees are.

     

    Rich, detailed data about each customer contract is given straight to the compliance and sales teams on a self serve basis. Audits and sales pipelines are appropriately prioritised.

    Smarter contracting

    look like a sage

    Issue

    You are negotiating with a major supplier, known for being a bully when contracting. You are down to the last few issues, one of which is whether third party contractors can benefit from the licence when working on-site, without supplier consent. You are tired, and the business eager to close the deal, and are thinking of conceding the point.

     

    Solution

    On the call, you log into 4Corners, select the products you buy from their biggest competitors, pull up a report on the third party sub-contracting position, and reel off the positions reached with their 5 biggest competitors on this issue - all allowing contractors without consent. The supplier concedes the point.

    Deep insight

    forewarned is forearmed

    Issue

    A piece of upcoming legislation will impact your business, meaning English law contracts will require your customers to have step in rights if they have more than a 3 year term, and a new High Court judgement has held that one of the key risks in your the sector is recoverable as a direct loss in most cases.

     

    The board ask for a report on what this means for risk position, and whether a project is needed to address these issues. They meet in two days time, and you have 600 clients.

     

    Solution

    You pull up 4Corners, and pull up a report on all English law contracts which will run for more than 3 years after the legislation comes into effect - you can instantly see that 35% of your clients are in this bucket, representing 40% of revenue - the other 65% of clients, and 60% of revenue will not be impacted.

     

    You then filter on those clients which don't have step-in rights, and see that half of your clients are likely to come to re-negotiate these rights - you estimate that you would need one extra person to address these 100 clients if responding to client requests. 80 of these client agreements renew before the legislation, so you instead propose to the board a re-papering exercise for these 80 clients when each renews - on standard wording.

     

    You then pull up a summary of your liability positions across your strategic customers, and see that you have agreed for the risk to be deemed an indirect loss in one quarter of the agreements - of the other remainder, a third will expire soon, a third are under re-negotiation, and a third are stable. You decide you need extra resource to re-negotiate these agreements - and have cross checked to see that in all but two cases, these agreements will need re-negotiating by the customer because of the new legislation.

     

    Your report is ready 2 days early, and you start on drafting the terms for re-papering, finding the right lawyer for your key liability limit re-negotiations, and sounding out the customer relationship managers for the two strategic clients which won't need to re-negotiate for their own reasons.

     

    You were armed and ready for the board well in advance. Robust analysis was at your fingertips, and you managed to start on preparing the paperwork and getting the right staff cued up within minutes.

     

    No new analysis was needed, no external lawyers, and no delays. Just you and 4Corners.

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