A free service allowing small businesses facilitate contract management has launched in Australia, following huge success in Singapore.
LawCanvas is an online platform used to create, edit, store, collaborate and sign business contracts.
“It’s so easy to use that you can get a Non-Disclosure Agreement (NDA) done in under a minute,” co-founder and CEO Daniel Leong told Australasian Lawyer.
“We’re helping businesses take the pain out of dealing with legal documents so that they can get back to building products and delighting customers.”
Aimed predominately at tech-savvy businesses looking to streamline their processes and reduce service costs, Leong likened LawCanvas to business productivity software.
As start-up founders themselves, Leong said he and his co-founders know first-hand how much time can be spent searching for templates, amending and sending for review.
“If you’re creating a contract on your own from scratch, it can take up to 10 hours to complete and execute a draft, and another 1-3 weeks to get multiple parties to sign off,” he said.
“After experiencing this one too many times, we realised that there was a need in the market for an easier way for people to find the contracts they need, collaborate online, sign them quickly, and refer to them when they need to – which is how LawCanvas was born.
“It’s really frustrating and tedious and we'd much rather be working on our businesses.”
Leong said while there are similar online providers, LawCanvas serves a new function as more of a contract workflow tool rather than a template library of a lead-generation platform.
“One of the simpler but yet popular uses is in employment, these companies often start using LawCanvas as a one-stop repository to create, store, and manage all their employment related documents,” he said.
“But before long, they discover the other documents in our contracts library and then expand it to other use cases.”
LawCanvas launched in Australia, Malaysia and Hong Kong last month after its success in Singapore.