TLT has partnered with LegalSifter to launch a “combined intelligence” solution for contract negotiation for in-house legal, procurement and operations teams.
This world’s first solution will dramatically increase the speed and efficiency of contract reviews and business transactions, and minimise risks inherent in the negotiation process.
The solution combines powerful artificial intelligence technology from LegalSifter with in-built legal advice and ad hoc legal support from TLT. Users start by uploading draft contracts into LegalSifter. Sifters – software trained to read text for a specific concept that learns over time – and in-context advice from TLT’s commercial lawyers then help users to identify missing terms and conditions and make changes that protect their interests.
The software completes a contract review within a minute or two, with greater consistency, less risk of errors or missed terms and the assurance that a lawyer is available when needed. It can also be customised to each client – for example to enforce a company’s sign-off procedures – enabling consistency across the business and can be up and running within a few days.