Source: LawSites
Law Insider, a company that provides what it says is the world’s largest public contracts database, has acquired oneNDA, developer of an open source contract standard for non-disclosure agreements that has been downloaded by thousands of organizations throughout the world.
Through the acquisition, the oneNDA.org standards library — which includes oneNDA, oneNDA Playbook, oneNDA M&A, and oneDPA, and their corresponding translations — will be made available for free to Law Insider’s over 3 million registered users, and more than 10,000 paying subscribers. In December, further building on the acquisition, Law Insider will launch Law Insider Standards, which it says will be an expansive contract standards and playbook library that will be offered for free to its users, and that will include the oneNDA standards and playbooks.
Electra Japonas, the cofounder of oneNDA, will join Law Insider as its first chief legal officer.
“oneNDA has been around for three years now, and it is time to evolve if we really want to realize the vision that we set out to achieve,” said Electra. “And that’s to become the go-to standard, it’s to create a world whereby you’re not constantly having this battle of the forms over documents that hardly get litigated, and where a bunch of lawyers are spending a bunch of time on stuff that doesn’t really matter so much. So coming up with a standard is a way to really transform the way that lawyers work.”
Preston Clark, president and cofounder of Law Insider, said, “With the recent popularization of contract standards, and the rapid emergence of AI-enabled drafting tools, it’s critical for Law Insider to adapt our vision to include these new methods for building contracts. Electra and what she’s built with oneNDA are a perfect complement to this next chapter for Law Insider.”
Read the full article: https://www.lawnext.com/2024/10/aiming-to-become-global-leader-in-contract-standards-law-insider-acquires-onenda-org.html
