Formlabs Cuts Contract Review Time in Half with Ivo AI

Formlabs' small legal team of four (three attorneys and one paralegal) spent nearly half of each day manually reviewing contracts, particularly NDAs and DPAs. The slow, manual-dependent process created operational delays and inconsistent risk assessments, leaving little time for higher-value strategic legal work.

Formlabs evaluated multiple AI contract review tools and selected Ivo for its clause libraries, checklist functionality, and accuracy in reducing false positives and negatives. The team deployed playbooks covering nine contract types to automate initial review of NDAs, DPAs, and customer contracts.

Ivo cut the time Formlabs' legal team spends reviewing NDAs in half, roughly doubling review speed compared to the prior manual process. The team reports greater consistency across reviews and more confidence that key contract risks aren't being overlooked, freeing attorneys to focus on more complex, strategic matters.

• Automating first-pass review of high-volume, repeatable contract types (NDAs, DPAs) frees in-house counsel for higher-value work.
• Contract-type-specific playbooks and clause libraries improve consistency and reduce false positives/negatives in review.
• Small legal teams can see outsized efficiency gains from AI contract review with minimal implementation effort.