Contract Review Firm Realigns Business Goals By Using AI for High-volume Contracts

The Client is an AI-powered contract analytics service provider. They required legal AI training, as well as AI validation for their contract analytics.

A leading contract review service provider partnered with LegalEase Solutions, requesting the training of their artificial intelligence (AI) system and improving data. This would be used to identify 74 fields, spanning 1,300 contracts. These fields included matters such as certificates of incorporation and bylaws.

Challenge

The client did not have the capacity and capability to train their AI system to review data. They reached out to LegalEase to train their contract review AI to identify 74 fields in these documents, including

  • share capital
  • share certificates
  • conversions rights
  • exercise options
  • founder shares
  • minority rights
  • dissolution of corporations

In addition, they requested a thorough reading and review of the documents, and needed experts who understood corporate laws, regulations, and financial structure

Solution

LegalEase Solutions delivered the extensive 1,300 document review by reading and comparing documents with the guidelines.
The LegalEase team used an escalation log to bring instances outside the guidelines to the Client’s attention during the review process. In addition, the LegalEase Team reviewed all the documents manually by reading them against the client’s guidelines.

Benefit

  • The instances outside the guidelines were brought to the Client’s notice immediately
  • The Client can now identify new fields to be added to future legal AI training

Result

  • LegalEase Solutions processed and reviewed over 1,300 documents
  • The Client’s data science team can now train the contract review AI to process corporate document reviews based on reviews and validations by LegalEase Solutions
  • LegalEase Solutions completed the project for the Client in under 90 days

Testimonial

“I ran them and everything looks great! The last remediation piece helped immensely. This was a very successful project – thanks to the LegalEase Solutions team and their hard work.”
-Contract Review Service Provider