For the past four years, the team at LegalSifter has been working on technology to analyse legal documents and provide suggestions about what clauses are missing or how they should be drafted.
The technology uses “sifters” to intelligently extract information and provide guidance.
Its aim is not to replace lawyers but rather to empower them to achieve timely and cost effective advice to clients on their legal documents.
Australian lawyer, Peter Fazio, has been an early adopter and advocate of LegalSifter’s technology. He has teamed up with LegalSifter, a US-based company, to bring its capabilities to Australian law firms.
Legal Practice Intelligence asked Peter Fazio (PF) some questions about LegalSifter.
How would you describe LegalSifter?
PF: Intelligent document review in a minute or two.
How does LegalSifter do it?
PF: It’s really simple. You upload your document in Word or PDF format. The “Sifters” read the document and in a minute or two, you get guidance on the document.
What are Sifters?
PF: The “Sifters” are the “brains” of the technology. They are machine learning algorithms trained to read text and look for specific concepts in the text before connecting it to the advice. The Sifters learn from each review conducted and improve over time.
What type of documents can it analyse?
PF: Currently Non-Disclosure Agreements. New Sifters and document types are rapidly being added will be available in the coming months.
Where is it available?
PF: Anywhere that has an internet connection. Legalsifter is hosted on Amazon Web Services.
It’s amazing how quickly Legalsifter’s technology is able to read and highlight terms in a Contract. No matter how many years you’ve been practising, or how many paralegals you’re able to delegate work to, Legalsifter will hands down provide you with the right information in a fraction of the time….and for significantly less cost! More work in less time means greater profit even when I’m not in the office.
Right now, LegalSifter has produced a number of sifters which automatically review Confidentiality / Non-Disclosure Agreements. In the next month, new sifters will be added enabling you to review other legal documents like EULA (End User License Agreements) and SAAS Agreements.
Until 31 October 2017, as a special offer, readers of Legal Practice Intelligence can use a demo site where you can upload your NDA and receive feedback in a minute or two. Just click on the link below to test it out:
To book a hands-on demonstration contact the team at LegalSifter Australia on 1300 529 476.
© 2017 Legal Practice Intelligence