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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 8 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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Thompson Hine, a national law firm and recognized leader in innovative solutions, has once again been recognized for innovation by The American Lawyer’s Industry Awards, in the “Best Use of Technology” category—where it is <a href="https://www.law.com/americanlawyer/2024/08/20/american-lawyer-industry-awards-and-corporate-practices-of-the-year-finalists-announced/" target="_blank" rel="noreferrer noopener">shortlisted</a> alongside BakerHostetler, Dechert, Kirkland &amp; Ellis, Morgan, Lewis &amp; Bockius, and Paul Weiss. This annual award “takes stock of the industry’s most impactful, innovative, and otherwise excellent work.” This year’s winners will be announced at The American Lawyer’s annual gala on November 13 at Cipriani Wall Street in New York City.

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Thompson Hine was recognized for its game-changing approach to employee stock ownership plans (ESOPs), an increasingly popular approach to corporate ownership.

Realizing that the volume, complexity, and multiple-party nature of ESOPs make them a prime candidate for technology enablement, Thompson Hine sought to improve the traditionally tedious and manual components of ESOP transaction work by leveraging technology to analyze a company’s existing contractual obligations and digitize the review and signing process.

With its prior investment in multiple tools for high-volume, high-complexity transactions, including several that leverage recent advancements in Artificial Intelligence (AI), the firm was well-prepared to swiftly deploy resources and technology to address this newly identified need.

This strategy resulted in a decrease of almost 50% of the time necessary to negotiate ESOP formation documents and facilitate the closing of that same transaction. Thompson Hine now leads in delivering more time- and cost-efficient ESOP transactions than comparable law firms.

This workflow was also <a href="https://www.thompsonhine.com/insights/thompson-hine-shortlisted-for-legalweeks-tech-enabled-transactional-practice-of-the-year/" target="_blank" rel="noreferrer noopener">one of three finalists earlier this year</a> for Legalweek’s Tech-Enabled Transactional Practice of the Year award.

The American Lawyer Industry Awards recognize outstanding achievements and contributions made by individuals, law firms, and legal departments across various practice areas and specialties. Hundreds of submissions are judged by senior leaders from across The American Lawyer’s newsroom. The prestigious awards not only honor exceptional achievements but also inspire excellence and innovation across the legal industry. Award recipients often set benchmarks for others and make significant contributions to advancing the legal profession in the United States.

Thompson Hine Shortlisted for American Lawyer Industry Awards Best Use of Technology

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