Contract Redlining
How it works
- Send us your Playbook We use our AI platform which incorporates that human intelligence so that when another contract is uploaded it compares the new contract with your playbook.
- Send us the contract We upload the contract in the platform which performs a redlined first draft. Our lawyers clean it up, reviewing the playbook as guidance.
- Redlined Contract Returned within 24 hours We compare the contract to your playbook, accept those portions that are consistent with your playbook, reject those that are not and suggest changes. You can send out the revised version of the contract the very next day.
The Problem
Contracts are the lifeblood of many businesses.
Some contracts are unique and require significant management resources.
Most do not.
For those contracts that are not unique and are voluminous and relatively routine, how are they currently handled?
Mostly poorly and predictably so.
A shining example is how companies handle Non-Disclosure Agreements.
They are often sent to a first level resource with no legal training in detecting potentially troublesome issues.
The advantage to that approach is speed.
The conversation is not delayed.
The disadvantage is the risk of assuming unknown obligations and not protecting the company.
Another approach is to send all of the voluminous and routine contracts to the legal department.
The advantage is the control of risk.
The disadvantage is both time and cost.
Generally medium size businesses roll the dice and err on the side of not controlling risk.
That is an approach, but a bad one.
The ContractRedlining Solution
We focus on the voluminous and routine contracts, such as NDAs and MSAs.
We use, or help create and use, the business’ own playbook, its human intelligence, to mold the deliverable.
We use artificial intelligence to review the third-party paper and compare its provisions to the business’s playbook guidance.
Our lawyers then harmonize the redlining and return a customized, AI enabled, lawyer-reviewed and revised contract.
Advantages are speed, controlled risk and cost.
Disadvantages? None.
