System and method for performing a legal audit

A method comprising the steps of

• providing a system for providing automated legal audits of a business comprising a data processing system having at least one computer and user interface, with software running on the computer for providing at least one user with information relating to a legal audit, wherein said information is selected from the group consisting of records of the company's business transactions, minutes of board of directors meetings, contractual agreements, licensing agreements, supplier and vendor agreements, purchase orders, partnership agreements, communications with competitors, intellectual property documents and registrations, and combinations thereof, and wherein the data processing system further includes a database of these records having automated categorization of the records in an index and/or a spreadsheet, wherein the index and/or the spreadsheet are searchable by an authorized user of the system;
• reviewing legal documents relating to a company's business, wherein said documents are contained in electronic format in the data processing system or database;
• summarizing legal documents in business terms;
• overseeing the organization of all important legal documents;
• and
• advising the board of directors and corporate officers and managers, thereby providing the company advance notice in order to take action(s) to minimize and/or to avoid litigation and to reduce legal costs for the company.