ContractPodAi, provider of the AI-powered contract lifecycle management (CLM) product and ‘One Legal Platform’, announced that oneDPA, a standardized open-source data processing agreement, created in partnership with PwC UK and the greater Claustack Community, is now freely available.
With ever-changing data protection regulations across the globe, it is increasingly challenging and time-consuming for legal teams to keep up with changes. In response, the Claustack community came together to create a standardized DPA which takes into account data protection laws in various jurisdictions to ensure it’s globally applicable.
On participating in the oneDPA SteerCo, Darryl Chiang, Director, Legal, at Google said: “I wanted to be a part of the growing community of lawyers championing open-source contracts as the key to a better future where a broad spectrum of companies can proactively agree to fair, friction-free terms to both comply with the law and get business done.”
As a result, oneDPA was created which reduces the amount of time and cost legal departments spend on DPAs.
“The importance of standardization within the legal industry should not be underestimated. Beyond the huge time and cost savings, it brings with it, in the age of the CLM, standardization works hand in hand with legal technology to benefit the legal sector through greater optimization,” said Roisin Noonan, COO of TLB and co-founder of Claustack.
Anyone needing to customize oneDPA can do so on the ContractPodAi platform in minutes. Through ContractPodAi’s logic-driven template you will receive a oneDPA that meets your requirements and adheres to regulations.
“Through this oneDPA initiative, we’re providing customers with true standardization plus technology enablement,” said Sarvarth Misra, CEO, and co-founder of ContractPodAi. “Pairing our award-winning CLM platform with the power of oneDPA’s standardized, peer-reviewed template will be a powerful tool for legal teams looking to drive automation, efficiency, and reduce friction throughout the contracting process.”
“Businesses around the world are figuring out the best way to adhere to an influx of data privacy regulations, and through oneDPA built on expertise and technology from TLB, ContractPodAi, and PwC UK, legal teams can easily manage a high volume of these agreements with automation guiding the whole process. This technology complements the overall process of intake, collaboration, and resolution, making it easier and more streamlined for teams to respond and adhere to new regulations,” said Graham Edwards, PwC NewLaw – Senior Transformation Lead.
ContractPodAi harnesses AI for leading corporations around the world. The platform’s capabilities have been extended to handle the entire, end-to-end legal lifecycle – any use case, document type, or scenario. ContractPodAi’s ‘One Legal Platform’ makes it easier for legal teams to expedite issues and author and review contracts to add more strategic value and proactively protect the business.
To learn more about oneDPA and this free offering on ContractPodAi, visit: https://contractpodai.com/create-onedpa/