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Bloomberg Law has announced the launch of Bloomberg Law Contract Solutions,  a new AI enabled contract workflow for In-House Counsel. The product is designed to help lawyers streamline drafting and negotiation with tools for profiling, searching and extracting clauses.  The product was designed in consultation with corporate legal teams.

 Live Virtual Event Bloomberg Law Contract Solutions will be introduced at a live virtual event on Thursday, May 11 at 1:00 p.m. ET, accessible at http://onb-law.com/xYZk50OfKjg.

Bloomberg Law Contract Solutions Features:

  • A secure, centralized repository, including a database of automatically extracted clauses to deliver an organized single source of truth that can be filtered, sorted, and searched across – with little to no data entry.
  • Seamless integration with Microsoft Word, allowing users to access their contract repository and clause library directly from their document, providing a fast and easy starting point for drafting and revising contracts.
  • Advanced analysis tools, accelerating the review of draft agreements and allow users to efficiently identify and incorporate preferred language to ensure favorable terms.
  • AI-powered extraction of key contractual terms, providing greater visibility into final agreements to help identify and flag potential risks and obligations.

Bloomberg Law has previously leveraged AI and machine learning in a variety of workflow solutions including Points of Law  for litigation research and its transactional intelligence tool Draft Analyzer which provides benchmarking and analysis of deal documents.. Bloomberg Law Contract Solutions builds on this pioneering legacy, leveraging proprietary semantic search and natural language processing (NLP) technology to deliver advanced search engine and contract analysis features.

Continue Reading Bloomberg Law Contract Solutions Offers AI Enabled Drafting for In House Counsel -Launch Even May 11th

LexisNexis® Legal & Professional, is announcing the launch of Lexis+® AI, a generative AI platform designed to transform legal work. According to the press release “Lexis+ AI is built and trained on the largest repository of accurate and exclusive legal content, leveraging an extensive collection of documents and records to provide customers with trusted, comprehensive legal results with unmatched speed and precision and backed by verifiable, citable authority.”  Lexis is not yet announcing the release of the product to the public. They are offering potential users an opportunity to learn about or participate in in the testing and development of the product. It is anticipated that the product will launch in the fall of 2023 and will be marketed as an “add-on” to Lexis+.

“We’re thrilled to bring this transformative technology to customers,” said Mike Walsh, CEO of LexisNexis Legal & Professional. “The Lexis+ AI platform provides first-of-its-kind tools for lawyers to dramatically improve the speed, quality, and effectiveness of their practice and business.”

New Lexis+ AI Features

The Lexis+ AI technology offers conversational search, summarization, and intelligent legal drafting capabilities.

Conversational search Is yet another step toward simplifying the legal research process. Lexis had previously launched several solutions to simply research including Lexis Answers, Lexis Brief Analyzer and Fact and Issue Finder. “Conversational search simplifies the complex and time-consuming legal research journey, providing a search experience for diverse legal questions with citations, facilitating lawyers’ ability to complete research effectively and efficiently. “Continue Reading Lexis+ AI Launches with Two Customer Initiatives: Commercial Preview and AI Insider Programs

 BriefCatch, an award-winning, patented legal writing tool,  is  launching  of BriefCatch 3 today. BriefCatch now offers over 11,000 legal focused edits and performs realtime rescans of new edits. The software is now compatible with Mac,  Windows and Word Online software.  BriefCatch 3 offers a rebuilt rules engine, which is enhanced with Natural Language Processing and AI.

During a recent demo founder Ross Guberman, walked me through a demo and I was impressed. Law is a language intensive deadline driven profession. Associates often face tight deadlines. I know what it is like to become blind to editorial mistakes. Using Brief Catch is
Continue Reading BriefCatch 3  Offers 11,000 AI and NLP Enabled  Editorial Suggestions to Streamline and Tighten Legal Writing

 Today Thomson Reuters announced the launch of HighQ Contract Analysis. The produce speeds contract review and analysis with machine learning technology. to answer the specific questions legal professionals want to address – in an easy-to-read report.

According to the press release, HighQ Contract Analysis  leverages machine learning and pre-trained models “to help attorneys increase efficiency, reduce risk, and accelerate the contract-review process for transaction due
Continue Reading Thomson Reuters Launches AI-Powered HighQ Contract Analysis

Bringing Neural Nets to the Law 
Casetext opened 2020 with the launch of a revolutionary new motion-drafting tool called Compose. Compose dramatically reduces the amount of time it takes lawyers to draft a motion or brief by serving up the arguments and standards appropriate to the motion type in a specific jurisdiction.  Compose also included a powerful new search functionality called “Parallel Search,” which was the first legal research tool to leverage breakthrough technology called transformer-based neural nets.  Parallel Search proved to be so popular with attorneys that in June of 2020 Casetext made that search capability available as a stand-alone product and an upgrade to their Casetext research platform. More than a decade ago, major legal research platforms Lexis and Westlaw freed their subscribers from Boolean search by introducing natural language search. But freedom from Boolean search did
Continue Reading What’s New at Casetext? Parallel Search and “Do it Yourself Neural Networks”
Bringing Neural Nets to the Law 
Casetext opened 2020 with the launch of a revolutionary new motion-drafting tool called Compose. Compose dramatically reduces the amount of time it takes lawyers to draft a motion or brief by serving up the arguments and standards appropriate to the motion type in a specific jurisdiction.  Compose also included a powerful new search functionality called “Parallel Search,” which was the first legal research tool to leverage breakthrough technology called transformer-based neural nets.  Parallel Search proved to be so popular with attorneys that in June of 2020 Casetext made that search capability available as a stand-alone product and an upgrade to their Casetext research platform. More than a decade ago, major legal research platforms Lexis and Westlaw freed their subscribers from Boolean search by introducing natural language search. But freedom from Boolean search did
Continue Reading What’s New at Casetext: Parallel Search and “Do it yourself” Neural Networks

I have ranked the most popular 15  Dewey S Strategic posts of 2020.It is no surprise to me that posts about the release of specialty COVID resources by major legal publishers dominate – 4 of the 15 stories. My annual “Hits and Misses” survey results  were covered in 3 of the 15 top posts. The…

Today Casetext is announcing the availability of a Microsoft Word plug-in for the Compose brief drafting technology. It makes sense to put a valuable drafting tool right in place where lawyers spend their time drafting. Compose enables  attorneys to locate and add arguments, legal standards, and precedent without ever leaving Word.

According to the press release, the Word version of Compose includes all the motions and features available in the original Compose application: a menu of click-to-add arguments, legal standards customized to the attorney’s side and jurisdiction, and Parallel Search, a powerful form of concept-based legal search which uses a sentence to find matching case law, even if it includes none of the same language.

The Promise of Dramatic Efficiencies .“Compose already increases efficiency in brief-drafting by 4x,[1] in part because it cuts out the need for attorneys to bounce between templates, treatises, case law databases, and a DMS in order to
Continue Reading Casetext Offers Dramatic Drafting Efficiencies With New Compose Word Plug-in