What is Social Impact
Social impact can be defined as solving significant challenges in our society. It is also termed as “making a positive difference over a long period of time”. The United Nations has 17 Sustainable Development Goals (SDGs) that individuals, businesses and countries can use to work towards a better future including innovation, quality education, reduced inequality, justice, climate action and many more.
Technological innovation is just one way in which we can achieve global sustainability objectives and a better quality of life for all.
In 1970, in his New York Times article, Milton Friedman said that the sole responsibility of businesses is to make as much money as possible. One can wonder whether the prominent economist would be “cancelled” today for his views. Companies are becoming extremely conscious of the impact their business has on society and the environment, or at least the perceived impact. Changing trends in consumer outlooks and shopping habits saw companies adapt their strategy to suit social views. Founders devout to social causes give away millions or even their entire businesses in a bid to protect the environment. For example, the latest move by Yvon Chouinard, the founder of Patagonia who gave away his $3 billion company to fight climate change.
Legislate’s contribution to a positive social cause
Legislate is a contract management platform that uses AI to create, sign, manage and store contracts. While a direct link between contract management and social impact may be hard to distinguish, there is more than meets the eye…
Decarbonisation is a term used to describe the reduction of carbon dioxide (CO2) emissions caused by human activity. Carbonisation, of which deforestation is a significant cause, has played a significant role in altering our climate. A study from earlier this year found that “the acceleration and high rate of forest carbon loss in the twenty-first century suggest that existing strategies to reduce forest loss are not successful”. Furthermore, A UNESCO study concluded that the water footprint of printing paper is estimated to be 2 to 13 litres.
The digitalisation of contracts reduces the need for:
- Physical archives
- Storage space for documents
- Business travel
Contract management platforms like Legislate help to facilitate the paperless movement required to achieve global sustainable objectives. You can create, sign, manage and store agreements replacing wasteful practices that lead to carbonisation with a more efficient alternative.
Create lawyer-approved contracts for free for 7 days
Access to justice, education and transparency
Legislates contracts are unbiased and worded and approved by lawyers without favouring any side. Because our contracts are unbiased, we aim to make our platform helpful and easy to use for both the person creating the contract as well as the party signing the contract.
By making contracts machine-readable, Legislate is facilitating inclusive and equitable information being available to all parties. The ability to search the contract as well as Legislate’s “Explain terms” function makes information regarding crucial terms easily accessible.
The contract creator as well as the other party can define complicated terms when by hovering over the information icon located in the terms tab. The terms tab also allows the other parties to the contract to see exactly what terms were selected without reading the whole agreement.
Legislate offers agreements which we all come across many times throughout our lifetime. Research has found that only 1 in 166 employees read their employment contracts in full. Such ignorance can lead to unfair treatment of employees, disciplinary action and unfair dismissal cases as well as unfair treatment of tenants, interns, consultants and other parties. Unbiased contracts reduce this and the interactivity of the platform educates all users on matters regarding legal contracts without giving advice.
Legislate addresses the key challenges in current contract management practices with consumers and the market in mind. Consumers want the ability to manage contracts digitally, a paperless solution, improved visibility and contracts created with sustainability in mind. These factors have been substantial motivators resulting in the adoption of Legislate by our consumers.
By taking all of this into consideration Legislate is creating a service that meets these needs on every level.