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CHARLOTTE, N.C. and LONDON, Nov. 08, 2019 (GLOBE NEWSWIRE) -- KL Technology, the IT focused subsidiary of technology law firm Kemper Little, and Investment Data Licensing Advisors (IDLA) announce today a collaboration that combines the power of KL Technology’s 4Corners contract analysis tool with IDLA’s robust data licensing expertise to provide data consumers and distributors with an unparalleled solution for managing high risk data licensing agreements.
Rich Folsom, CEO of KL Technology said, “With the advent of regulatory and client scrutiny on how exchanges, vendors and investment clients manage their data suppliers, these firms need a complete vendor management strategy. IDLA’s extensive experience across a broad spectrum of data solutions combined with our software offers investment managers and distributors of data a powerful solution that will save time, reduce cost and enable firms to better manage their data licensing risk.”
Per the agreement, IDLA and KL Technology will collaborate on providing data solutions for their clients – combining the product and contract analysis and organization insights of KL Technology with the licensing expertise of IDLA.
“Getting a clear handle on the myriad of usage restrictions across vendor contracts is complicated and onerous and if not tracked effectively creates significant risk to investment firms and other consumers of investment and market data,” said John White CEO of IDLA. “As a former KL Technology client, I speak from experience that 4Corners makes a significant step forward in helping clients bridge this ever-increasing challenge.”
KL Technology’s flagship product ‘4Corners’ is a game-changing contract analysis tool built to solve the challenges in managing market data licences. 4Corners captures and organizes everything within the four corners of the document, creating a structured organized information layer. It works as a single source of truth for legal, procurement, sales, audit, and the 'business', holding information and legal advice about their documents, contracts, data, financial products, and how they are used.
This information can then be aggregated and linked to allow contract-based questions on data and licence rights to be easily organised and instantly answered, backed up with robust legal advice. All in a self-serve way via a browser, but with full audit controls and maintenance of legal privilege.
This novel approach to pre-emptively creating and structuring robust legal advice in this way was recognized at the FT Innovative Lawyers Awards with 4Corners winning the Innovation in the business of law: Technology award. More importantly, the need for this approach has been resonating with clients in the market data space, as they face up to the ongoing challenges of organising and managing data licences in an ever more complex world. For more information, visit https://www.kl-legal.tech.
Investment Data Licensing Advisors is a market and investment data licensing advisory firm with unique experience across the spectrum of data solutions for counseling consumers and distributors. Founded by industry veteran John White, our firm provides investment managers and other market data consumers with a comprehensive, integrated data solutions program that enhances risk management and reduces cost while optimizing data and reporting. For data distributors, our team’s experience on the licensing side enables us to counsel data vendors and exchanges on distribution programs that create sustainable growth as well as prudent M&A transaction advice and processes. For more information, visit https://investdatalicensing.com.
Justin Meise, Buttonwood Communications Group for IDLA