Law Insider, ‘the world’s largest public contract database’, has acquired oneNDA, the contract standards pioneer which initially addressed Non-Disclosure Agreements (NDAs).
As part of the deal Electra Japonas, who co-founded oneNDA as well as the TLB group, will join Law Insider as its first Chief Legal Officer.
Through the acquisition, the oneNDA.org standards library, including 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, the US-based company said.
The strategic goal with the acquisition will be to build on the success of oneNDA through the launch of Law Insider Standards later this year. That will be ‘an expansive contract standards and playbook library offered for free to its registered users, and will include the oneNDA standards and playbooks’.
Also, to help promote the adoption of oneNDA and Law Insider Standards, Law Insider will offer an automated version of all of its standard contracts that will enable adopters to create, send and eSign the standards for free. Additionally, all standard playbooks will be available through an AI-powered Word Add-In and will provide instant redlining suggestions and comments, they added.
Commenting on the deal, Japonas said: ‘By joining forces with Law Insider, we enable our existing contract standards to reach a much larger global audience, while also giving ourselves the resources to expand the library of contract standards to include MSAs, SOWs, Cloud Service Agreements, EULAs, SLAs – among many others.’
While Preston Clark, President and co-founder of Law Insider, commented: ‘For over a decade, our vision for Law Insider has been very simple. We want to be the leading global database for contract templates and clauses.
‘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.’
So, there you go. It’s the end of an era for oneNDA, which really helped to shine a light on the need for standards in frequently used contracts, and the beginning of a new chapter as it moves within Law Insider, a platform laser-focused on contracting.
Plus, the deal brings together two leading legal innovators – Electra Japonas and Preston Clark – and this site will be looking forward to the great things they will achieve together!
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