Case Study: LG Chem cuts contract review time by over 30% with Luminance

LG Chem cuts contract review time by over 30% with Luminance

LG Chem, a global manufacturing company, sought to increase efficiency in its legal processes to support business growth. Their challenge was to decrease the turnaround time for contract reviews, particularly for standard documents like NDAs, while maintaining compliance and consistency. To address this, they became the first Korean customer to implement Luminance's Corporate product.

Luminance provided an AI-powered solution that automates contract review by automatically flagging areas of risk and allowing team members to draw from preferred precedents. The implementation of Luminance, including its Ask Lumi chatbot for instant summaries in Korean, resulted in a reduction of time spent on contract reviews by over 30%. This allowed the legal team to focus on higher-value work, driving efficiency across the entire business.

LG Chem