Our pre-screening technology works by first deploying a sophisticated language processing (NLP) engine developed in collaboration with Cambridge University. This allows us to understand the meaning of the words within an agreement. We can then ask and answer thousands of questions according to our Lexible framework to build a detailed picture of the obligations and rights within the agreement. All of this data is then summarised into clear, actionable advice. That advice is then surfaced to users within our own web application or if they prefer directly within Microsoft Word for ease of remediation and comments.
Each property on Lexible is expressed as a question (e.g. Does the counterparty have a right to assign this contract to anyone?) ThoughtRiver’s pre-screening tool automatically determines which properties are relevant for your contract type and answers all associated questions for you. It then tells you how risky those positions are against your playbook.
Our users spend their days working on contracts in Microsoft Word, so we have created an add-in to that tool which allows our users to access all of our intelligence as a side panel within Word. Our system will suggest new language for clauses that we deem to be risky or missing, and also provide you with template comments to drop into the agreement as you review. Put simply, we speed up the entire review and remediation process.
Our Lawyers believe the best way to approach automated contract review is a combination of valuable legal intelligence coupled with advanced machine learning capabilities. By doing this we can accurately and consistently simulate the human contract review process. Aligning this with the universal Lexible framework allows our tool to access a larger amount of training data and make logical connections between clauses, increasing our accuracy while decreasing time to value for our users.
By surfacing all of this key information to our users within Microsoft Word we are also seamlessly integrating our intelligence into the standard workflow of lawyers the world over. We have spent a lot of time getting this usability right, and we are excited to show you exactly how it works.
Intelligence surfaced directly within Microsoft Word, so no change in workflow.
Our framework is infinitely extensible to cover any agreement type or point of meaning.
Bespoke risk policies that are easily configurable to every need.
We support three core use cases. Automated Contract Review which is typically undertaken in the context of reviewing and remediating unsigned contracts, Rapid Insight which is about extracting and analysing data from a volume of signed contracts, and Contract Analytics which is using data from your signed contracts to make better business decisions. Finally, our products drive Deal Velocity as a core benefit.
Learn how automated contract pre-screening technology can free up an in-house legal team to deliver strategic and commercial value to the wider business.