How an ASX50 company worked with LegalVision to develop an innovative legal solution to help transform its business structure.

$120 million high-profile commercial transaction seamlessly executed

840
letters prepared
663
legal documents drafted
0
unexpected bills

Our client, an ASX50 company, wanted to buy back hundreds of franchises and bring these franchised sites into a company-operated structure as part of a revamp of its retail strategy. By taking over control of these outlets from franchisees, our client’s aim was to accelerate sales and profits by unifying all its retail businesses under standardised systems, improving supply arrangements and promoting a consistent retail experience. Purchasing these franchises would also increase our client’s capacity to introduce and test the viability of new retail concepts.

To help bring hundreds of franchises under their company banner, our client looked to LegalVision to manage the legal process of varying a high volume of existing contracts, and negotiating with franchise owners to enter into new contracts.

“LegalVision came in at short notice and worked with us to design the negotiation process, finalise the offer documents and create a technology platform that our managers could use to track tasks, correspondence and notes with the parties we were negotiating with. LegalVision were also able to help us manage the volume of negotiations and keep on top of the legal documentation. They worked seamlessly with the in-house legal team and the commercial negotiation team. The technology and process driven solution really set LegalVision apart from other law firms.”
Senior Legal Counsel, ASX50 Company

Efficient and large-scale document production

Challenge

Deciding between purely tech or purely legal solutions

To execute a large transaction like this, companies often stick with traditional law firms or turn to tech-only providers, with each focusing on their area of expertise. Integrating tech products with a separate legal workflow can be complex. On the other hand, decentralised project delivery methods, where the technology and legal components work independently of each other, can lead to unnecessary replication and inefficiencies.

Solution

Integrating law, technology and process

LegalVision designed and delivered a managed legal service. We built a customised and multi-disciplinary approach for this client which began by breaking down the workflow to identify the individual ‘tasks’ in the overall project. For each ‘task’, we utilised legal, tech and process design experts at appropriate touch points (leveraging the capabilities of our specialist team members).

Result

400 contracts drafted in 2 weeks

Through this integrated approach, we were able to draft and issue 400 contracts within a tight turnaround. Our highly experienced commercial Practice Leader oversaw the drafting of contract templates and the Project Lead worked with our specialist software engineering team to build contract automation software. A team of lawyers then reviewed and finalised the contracts, and LegalVision’s process design expert created efficient workflows to issue the correct contracts to relevant parties.

Streamlined tracking and reporting

Challenge

Managing stakeholders

For this high-profile and commercially sensitive transaction, our client needed to ensure that all internal stakeholders could monitor the progress of the project. Our client was also eager to have a way of tracking progress against multiple (and overlapping) workflows.

Solution

Custom-built technology

LegalVision’s lawyers and specialist IT engineers worked closely with our client to customise PRISM (our unique project management platform) to act as a centralised hub of information and franchise documentation. PRISM provided secure, cloud-based collaboration, real-time analytics and automated document creation. Through visual dashboards and reports, the client could track all critical transactions.

Result

Enhanced project governance

The custom-built portal allowed the client to seamlessly manage each stakeholder and enabled them to identify and mitigate any legal and commercial risks. By using PRISM to manage documents relating to the buy-back of hundreds of franchises, we also provided an easy way to store and retrieve documents, delivering significant time savings to our client.

Cost certainty

Challenge

Accommodating ebbs and flows

For our client, the volume of legal work at any given point in time was going to be driven by a myriad of external factors, making the work highly unpredictable. The commercial transaction was also conducted in a complex legal landscape. Our client needed a pricing solution which accounted for this complexity and accommodated the variables in the work – particularly in relation to the negotiations process.

Solution

A fixed monthly price

LegalVision applied technology and process design to achieve economies of scale across a large volume of repetitive legal work, thereby delivering a cost-effective solution. By working with the client to invest in technology and process design up-front, we were able to deliver ongoing value through efficient workflows. This, in turn, enabled us to provide a fixed pricing solution which was responsive to our client’s needs (accommodating both the high-volume of work, as well as advice on complex legal issues from time to time).

Result

Expert advice on tap

As LegalVision’s managed legal services team sits within a full-service law firm, we were able to quickly respond to specific legal questions of statutory interpretation, contractual interpretation and legal nuance. As more substantial legal issues arose (such as negotiation positions and risk assessments), we drew on specialist lawyers in the firm. This was done as required, rather than dedicating expensive senior lawyers and Practice Leader resources to the matter full-time. This strategy allowed us to balance accurate and expert legal advice with an appreciation for our client’s overall legal fees.

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