Definition #
NLP systems identifying clauses, obligations, and risks in agreements.
Key Characteristics #
- Clause library matching
- Obligation tracking
- Deviation alerts
- Renewal forecasting
Why It Matters #
Reduces contract review time from hours to minutes (CLOC).
Common Use Cases #
- M&A due diligence
- Lease abstraction
- Compliance audits
Examples #
- Kira Systems
- LawGeex
- Evisort
FAQs #
Q: Accuracy rates?
A: 98%+ on standard clauses, 85%+ on complex bespoke language.
Q: Multi-language support?
A: Handles 50+ languages with legal dictionary customization.