Contract Automation Business

Contract Automation Business Success Stories [2024]

Pat Walls

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Updated: October 10th, 2024

Navigating the labyrinth of legal agreements can be a time-consuming puzzle for businesses. With a contract automation business, you simplify this complexity by leveraging technology to streamline contract creation, execution, and management.

At its core, this business involves developing or deploying software solutions that automate repetitive, manual contract-related tasks. Imagine businesses being able to generate contracts with a few clicks, enforce compliance, and monitor obligations effortlessly.

This idea holds substantial appeal for companies eager to reduce administrative burdens and legal risks while improving accuracy and efficiency. The ongoing need for faster and more reliable contract management presents a lucrative market.

Getting started will require a good grasp of legal processes and technology. Partner with legal experts, invest in robust software, and focus on user-friendly design to maximize adoption. By offering a more efficient alternative, you position your business as an essential ally in any firm’s operational toolkit.

In this list, you'll find real-world contract automation business success stories and very profitable examples of starting a contract automation business that makes money.

1. Legislate ($60K/year)

Charles Brecque, the founder of Legislate, came up with the idea for his legal tech company after experiencing the slow and painful process of creating, negotiating, and tracking contracts in his previous startup role. He realized that making contracts machine-readable through knowledge graphs would be a more efficient solution and secured initial funding to start building the platform. Legislate has since gained over 120 paying clients and raised £1M in funding.

How much money it makes: $60K/year
How much did it cost to start: $150K
How many people on the team: 12

How I Raised £1M And Built A Contract Software For Non-Lawyers

A legal tech company, Legislate, founded by Charles Brecque, makes it easy for non-lawyers to safely create lawyer-approved contracts and track the data they contain, with a team of 12 and over 120 paying clients split between property and employment.

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