Leading international law firm Clifford Chance has used Josef to create Intelligent VIMA Solutions, a series of solutions that automate and generate documents based on the industry standard Venture Capital Investment Model Agreements (VIMA) suite launched by the Singapore Academy of Law (SAL) and the Singapore Venture Capital and Private Equity Association (SVCA).
Developed with input from Clifford Chance’s Create+65 start-up community, the simple and easy-to-use Intelligent VIMA Solutions enable entrepreneurs, venture capital firms and angel investors to quickly generate and customise a first draft of essential documents in the early stage financing of a start-up, such as Non-Disclosure Agreements, as well as fundraising and shareholder agreements.
Clifford Chance was part of the Working Group which developed and introduced VIMA, which is based on Singapore law.
In a statement to the media, Kai Schneider, Singapore Managing Partner, Clifford Chance, said, “The launch of Intelligent VIMA Solutions is a great example of how our Create+65 innovation lab has harnessed the power of legaltech to transform the delivery of legal services. It is our hope that wider adoption of VIMA, now made easier through user-centric chatbots and auto-fill questionnaires, will help further reinforce Singapore’s position as a leading start-up hub in South East Asia, and encourage the development of legal technology and innovation.”
Clifford Chance x Josef Automation Academy in the Americas
Shanice Choo, Legal Innovation Advisor, Clifford Chance Create+65, said, “A common challenge that start-ups face is how to navigate the legal documentation for early stage financing. By adopting a co-design approach with our Create+65 start-up community, we were able to empathise with and understand how to make those documents more accessible to first-time entrepreneurs and investors. The result? Automated document solutions designed with the end-user in mind.”
Sam Flynn, Co-Founder and Chief Operating Officer, Josef, said “It’s so exciting to see Clifford Chance using Josef in this way, making life simpler for start-ups in Singapore. We look forward to seeing more world-leading initiatives out of Create+65 and Clifford Chance.”
To mark the launch of Intelligent VIMA Solutions, Clifford Chance recently partnered with Temasek, one of the members of the Working Group, the SAL and the SVCA to introduce and demonstrate the solutions to an audience of entrepreneurs, corporates, VCs and angel investors.
Since its launch in 2018 in Singapore, Create+65, Clifford Chance’s first innovation lab, has demonstrated a track record of piloting legal technology solutions including the Automation Academy, a cutting-edge legal automation training programme run with Josef since 2019.
Build Better Bots, Interview, Legaltech