docQbot combines AI and HotDocs’ document assembly technology to help international companies do business with Chinese entities
San Diego, CA, September 6, 2018 – HotDocs, an AbacusNext product and the global leader in document automation software, today announced its partnership with legal services provider, docQbot (Beijing docQbot Huiwen Data Technology Co., Ltd, a sister company of China Going Global Think-tank (“CGGT”)). HotDocs’ industry leading document automation technology will power docQbot’s recently launched bilingual contract drafting tool designed to aid organizations conducting international business with Chinese entities.
Currently in beta release, docQbot’s online contract service offers twenty fully automated, intelligent, contract templates. Each bilingual template can in many cases create hundreds of thousands or even millions of contract variations in both English and Chinese. docQbot also is working with top law firms around the world to localize the base templates to support business transactions in more than 100 countries.
Templates available through the docQbot platform were designed by legal experts with a deep understanding of the Chinese market and the complexities associated with business negotiations. Gary Eunson, International Sales Director at AbacusNext, stated, “This docQbot solution is unique in that it combines artificial intelligence with HotDocs document automation technology to support the creation of multi-language documents in a very innovative way. This specialized consumer-facing application is the first of its kind and expands on the possibilities of what’s possible with document automation technology within the global marketplace. Businesses that tap into this contract generation tool will find that it simplifies so many of their challenges associated with complex international trade agreements.”
The contract generation tool is ideally suited for organizations conducting business with Chinese entities associated with outbound investments and foreign trade transactions. The easy-to-use interface makes it possible for legal professionals to quickly generate high-quality business contracts suited to early stage negotiations. Contracts can be created in as little as 10-15 minutes.
Mary Bai, co-founder and CEO of docQbot and CGGT, stated, “CGGT is very excited to team up with its sister company, docQbot, and with HotDocs to provide this unique legal AI solution to help both Chinese outbound investors and foreign trade companies avoid common problems and achieve more success in their cross-border deals. The docQbot tool makes it simple and easy to do contracts the right way. It is fast and low cost.”
docQbot also understands that most business contracts require additional expert counsel to address the unique aspects of each business arrangement. As such, docQbot can draw upon its close relationships with law firms in more than 100 countries to provide users with legal advice reaching beyond the scope of the docQbot tool. This allows Chinese and foreign trade companies to access in-country expertise needed to successfully conduct business internationally.
HotDocs is the global industry leader in document automation technology, with customers in 60 countries and over one million users. Document automation enables a vast reduction in time spent in the production of high volume, repeat documentation such as lending packages, credit documentation, and client on-boarding. Widely used within the banking, insurance, legal, government, and corporate sectors, HotDocs software helps to increase accuracy, reduce cost, eliminate risk, and improve efficiency in the generation of complex, or simple, repeat documentation.
As the largest technology provider for the professional services sector, AbacusNext helps legal and accounting professionals achieve ultimate success and peace of mind through the delivery of a complete suite of compliance-ready technology solutions designed to support a secure and cloud-enabled practice at a cost they can afford. Headquartered in San Diego, California, and backed by private investment with Providence Equity, AbacusNext delivers products and services to over 12,000 clients worldwide.
About docQbot and CGGT
CGGT operates the China Going Global Think-tank platform, which provides Chinese enterprises with professional information and reports on outbound investment, covering strategy, finance, accounting, valuation, law, risk management, human resources, tax, and data and brand management. The docQbot solution is designed to help Chinese companies avoid common problems and achieve a greater level of success in both ODI and foreign trade transactions. All contracts are available in English and/or Chinese versions and are being localized for use in up to 100 countries and territories around the world. Just answer a few simple questions, and docQbot can produce a high-quality dual-language draft contract customized for your transaction in just a few minutes! Moreover, if you need offline support from qualified legal advisors, you will also be able to draw upon docQbot’s extensive network of leading lawyers across China and around the world. To learn more about docQbot and CGGT, visit www.cggthinktank.com and www.docqbot.com/en.