It is a great opportunity for somebody to name the category. The problem with CLM as a name is that “management” is broad and vague, so that is wide open space. Whoever names the new category can position themselves against CLM and they will automatically get the benefits of being “not a CLM” and people will assume they solve all of shortcomings of traditional CLMs. I am not a legal tech founder but I know what I would name the new category! Maybe I’ll vibe code something so I can get in the arena!
I think the best thing going for CLM what how similar it sounds to CRM.
I could call the category "Legal Request Orchestration" but LRO just doesn't sound like a software category.
The other issue is that "management" was true of old software but is NOT true of current AI based software that doesn't just manage but performs the work. So maybe we should call it LRP.
It is a great opportunity for somebody to name the category. The problem with CLM as a name is that “management” is broad and vague, so that is wide open space. Whoever names the new category can position themselves against CLM and they will automatically get the benefits of being “not a CLM” and people will assume they solve all of shortcomings of traditional CLMs. I am not a legal tech founder but I know what I would name the new category! Maybe I’ll vibe code something so I can get in the arena!
I think the best thing going for CLM what how similar it sounds to CRM.
I could call the category "Legal Request Orchestration" but LRO just doesn't sound like a software category.
The other issue is that "management" was true of old software but is NOT true of current AI based software that doesn't just manage but performs the work. So maybe we should call it LRP.