Klara

What are the main use cases addressed by ContractKen? 1. Contract Review & Redlining: Leverages AI to identify, locate, explain, mitigate and redline edit key risks, ambiguous terms, missing clauses, etc. in the contract. 2. Integrate your Playbooks: Run drafts against your organization checklists or playbooks. Screen for terms / clauses which comply or deviate from approved standards and make a redline edit. Download the report within minutes. 3. Precedent based Drafting: Use your trusted precedents to create first drafts. Add instructions manually or upload term sheet, and let AI do the rest. Reduce time to first draft by up to 80%. 4. Formatting & Proof-Reading: Identify and navigate to all typical errors or oversight related to Defined Terms, Clause References, Money / Dates / To-do’s, etc., that creep in while the contract goes through multiple revisions / review cycles. This helps speed up the final check list work significantly.

We have developed a new AI-based contract analysis solution to help companies easily review force majeure clauses. Without AI, attorneys will have to spend valuable time simply finding the force majeure language, governing law and any other applicable clauses. The project has been funded by Innovate UK’s Sustainable Innovation Fund. The platform automatically extracts key data points, recognizes patterns, and classifies documents. It reads contracts accurately in many formats, organizes large amounts of contract data, and provides analytics about the data extracted. The platform lets companies review contracts more rapidly, handle vast amounts of data more easily, and manage contracts more effectively. It quickly sorts through a large volume of data and flags contracts based on defined criteria. The platform enables intelligent contract development, whereby the drafting process becomes faster, smarter, and easier.