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Companies tagged with contract review

Vaultedge Software

Vaultedge automates Legal Contract reviews. The software helps lawyers as well as other business users to automatically review contracts, identify risks, make changes and create summaries. Users save upto 90% of time reviewing contracts using Vaultedge. Reviewing contracts and identifying obligations & risks is a critical process in Contract management. Today this process is completely manual with legal and contract management professionals reading through contracts, comparing with standard approved positions and identifying risks. Each such review takes 3 to 4 hours. This leads to long contract negotiating cycle leading and lost or delayed revenues. Vaultedge uses artificial intelligence (AI) and machine learning to understand Contracts the way a lawyer does. With Vaultedge, you can upload a contract and see the risks (deviations from standard template) highlighted in less than 60 seconds. Vaultedge also suggests alternate language for clauses. We achieved this by building an AI platform for unstructured data and training it over 1000s of contracts to accurately identify more than 300 clauses and data points. Using Vaultedge, companies can save 90% of time spent reviewing contracts. Most importantly, with Vaultedge any body can accurately review contracts.

Klarity

Klarity uses Artificial Intelligence to review sales contracts under your company legal policy. Klarity pulls contracts from your emails and databases and returns them reviewed in a Word format with annotations and redlines along with a summary. Your company experiences accelerated sales and higher compliance without having to think of contract review anymore. Klarity was founded by Andrew Antos, a Harvard lawyer with experience from BigLaw, and Nischal Nadhamuni, a MIT Computer Science graduate with background in Artificial Intelligence. You can read Klarity's full story here and here.

LegalSifter

LegalSifter reviews contracts in a minute or two using artificial intelligence and the advice of a client’s lawyers and leaders. Clients start by uploading draft contracts that they are negotiating, particularly those written on other party’s paper. Sifters – software trained to read text that learns over time – review the draft contract and identify important legal and business concepts that demand attention or are missing entirely. The Sifters trigger Help Text, in-context advice tailored to the client’s business and negotiation position.