Definition #
NLP systems generating, reviewing, and managing contracts, reports, and forms.
Key Characteristics #
- Clause recognition
- Version comparison
- Compliance checks
- E-signature integration
Why It Matters #
Reduces contract turnaround from weeks to hours (Docusign 2023).
Common Use Cases #
1- Loan agreements 2- HR onboarding docs 3- Compliance reports
Examples #
- Ironclad
- Conga
- LawGeex
FAQs #
Q: Error rates?
A- <1% for template-based docs, 5-8% for complex custom drafts.
Q: Audit capabilities?
A- Full version history and change tracking with blockchain options.