Menlo Park, CA - October 2, 2003 - OpenSource, Inc., a provider of contract analysis and management software to law firms and legal departments, today announced the release of OpenSourceCM 3.5. This version expands the product reach into deal-centric collaborative review and negotiation of agreements - an area that until now was poorly catered to by a combination of word processors, comparison tools and e-mail applications.
The OpenSourceCM product started by giving legal organizations visibility and control over executed agreements. The new release adds support for the contract creation lifecycle, including drafting, collaborative review and negotiation. Unlike other collaborative review tools, such as Workshare and Workshare DeltaView, OpenSourceCM 3.5 provides a comprehensive view of all documents relevant to a transaction. It is fully web-based, eliminating the need of collaborating parties to access internal file systems or install proprietary client software.
OpenSourceCM 3.5 includes the following new capabilities:
"Our clients are tired of working on separate agreements without visibility into the whole relationship with the other party, or even the additional documents related to that specific transaction," commented Uri Zernik, co-founder and CEO. "They are frustrated with chasing document versions across mailboxes and not being able to track the changes made by their peers. Having the right fundamentals in place allowed us to address this unmet market need. We added the familiar MS Word editing interface within our already collaborative and transaction-oriented environment, and combined it with the online comparison capability that clients, such as LexisNexis, have been using for years."
About OpenSource Inc.
Established in 1995, OpenSource provides legal document analysis and management solutions to law firms, corporate legal departments and legal publishers. The Company's products and services combine technologies such as Document Structure Analysis (DSA), Natural Language Processing (NLP) and Optical Character Recognition (OCR), with web architecture. They feature full-text cross-documents search, advanced comparison, automatic hyperlinking of referenced text, event ticklers and reports. For more information, call (+1 650) 330-0259 or visit www.opensourceinc.com.
OpenSource, OpenSource, Inc., and OpenSourceCM are trademarks or registered trademarks of OpenSource, Inc. All other company and product names are property of their respective owners.