Leading Greek law firm, Your Legal Partners, adopts Luminance for multi-jurisdiction M&A deals 8 January 2020 | London
08 January 2020 - Your Legal Partners (YLP) has become the latest Greek firm to deploy Luminance’s award-winning technology to conduct due diligence with enhanced speed and confidence. The leading European firm selected Luminance as it was the only solution flexible and intelligent enough to enhance reviews across multiple jurisdictions and languages for major Greek and international clients.
YLP recently completed a two-week pilot of Luminance, conducting a live deal with a data room consisting of 693 documents relating to an M&A due diligence project. The pilot resulted in significant time savings during the review, with Katerina Christodoulou, Partner at YLP, noting she was able to “work at least two times faster” using Luminance.
The leading Greek law firm also felt more confident in their ability to conduct a rigorous review due to the unprecedented insight Luminance’s advanced machine learning provided. From day one of their pilot, YLP were able to gain a comprehensive insight into all 693 documents without compromising on their processes or relinquishing control to the machine. In particular, Luminance was able to identify 11 anomalies in the data room on day one, which the lawyers were then able to analyse for any hidden risk or opportunity.
CEO of Luminance, Emily Foges, commented: “YLP recognises the time and efficiency savings Luminance can deliver in cross-border, multi-lingual M&A transactions and the crucial role AI will play in maintaining their position at the forefront of the international legal market.”
Founded by mathematicians from the University of Cambridge, Luminance has developed the Legal Inference Transformation Engine (LITE), the first true application of machine learning to the legal industry which enables lawyers to analyse document sets and contracts with unmatched speed and enhanced confidence.
Luminance has secured over 185 customers across six continents since launching in September 2016, including 18 of the Global 100 law firms. The company has offices in London, New York, Chicago and Singapore to meet demand from firms and organisations across the world.
About Your Legal Partners
YLP is a leading law firm in Athens, Greece, representing major local and international clients with an emphasis on high-end corporate and finance transactions. YLP combines in-depth legal knowledge with focused expertise that allows us to assume mandates in multiple practice areas including niche areas and areas which require specialized competence YLP was established in 2008 by three partners already positioned in the top of the legal market with an aspiration to create a high quality independent Greek law firm with an international flair and an ability to respond to local challenges. In all matters, where whatever the value, timely and commercial advice is always required, YLP’s involvement ensures that they will not focus only on the execution and technical part of the transaction but they will offer solution where others just pick on problems.
Luminance is the leading artificial intelligence platform for the legal profession. Founded by mathematicians from the University of Cambridge, Luminance has developed the Legal Inference Transformation Engine (LITE), the first true application of machine learning to the legal industry, combining pattern-recognition technology with supervised and unsupervised machine learning to read and understand human language. Luminance is used by law firms and in-house teams in over 46 countries around the world to improve processes such as due diligence, contract negotiation, regulatory compliance reviews, property portfolio analysis and eDiscovery. The company has offices in London, Cambridge, New York, Chicago and Singapore.
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