We use an AI solution to redline and negotiate contracts on behalf of clients.
One of our attorneys works with our client to create a playbook setting forth the terms that the client wants, those that they are willing to accept, and those they will not, as to a client’s specific contract type. The process can be applied to many different contract types.
The playbook is then used to compare the suggested terms of the third-party contract and draw attention to any terms that are not consistent with the client’s playbook. This is able to be done by the use of algorithms used to find the terms in the third-party contract and to find the same terms in the playbook. The AI also points out the terms that are frequently contained in the contract type that was reviewed, even if there is no inconsistency, so that a determination can be made as to whether to add them.
By using the AI platform our attorneys are able to provide higher quality and more consistent results in applying the client’s contract-specific intelligence to the third-party contract. It also takes less time and therefore costs less money than the traditional artisan approach.
We can either deliver the resulting contracts, redlined consistent with the client’s playbook for the client to send over to the other side and the client can follow up, or we can send the contract directly to the third-party and negotiate the contract until completion so that all that remains is for the client and the third party is to execute the agreement.