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Checking for standards

It often happens that technical and legal departments are not involved in the contract drafting process in due time. This can ultimately lead to essential contract components being missing or unjustifiable risks being included in the contract. It is also problematic that every change to the contract inevitably leads to a new review, which in the worst case results in a change to the entire contract. Automating the contract review can help to avoid recurring adjustment loops and ensure internal company guidelines.

Step 1

First, upload the legal documents you intend to review. It is irrelevant in which file format they are saved: Our software automatically converts the uploaded documents into an editable format.

Step 2

First, the basic details of the contract are checked to ensure they are complete. This can be, for example, the company name, the address or the place of jurisdiction.

Step 3

Next, more specific formulations, possible risks and compliance with internal company standards are checked. Once the analysis is complete, the detected risks and missing information are summarised in a well-organised document.

Massenprüfung

It can always happen that many contracts have to be checked for a certain criterion in a short period of time. This may be due to updated legal requirements or new business relationships. Our software supports you in reviewing and adapting your contract portfolio within a short period of time. To gain an insight into how our software works, you will find two practical examples below:

Example 1: NDA

As a B2B company, are we allowed to disclose secret information recorded in the NDA under certain conditions?

Normally, this would require a manual review of the company’s entire contract portfolio to determine the content of the numerous confidentiality clauses. With the help of the mass check, this is no longer necessary: The large amount of contract data can be checked automatically within a short time.

Example 2: New standards

Over the last few years, we have concluded many different contracts for certain types of agreements, such as sales contracts or employment contracts. Now we are faced with the challenge of reviewing these contracts against a recently introduced standard.

The mass check helps you to identify the contracts in question and, if necessary, to change them immediately. With the help of various functions within our software, editing and adding certain clauses is simple and straightforward. Due to the mass check, you no longer need to manually search the individual contracts to identify new standards. 

Did you know that you can have confidentiality agreements checked quickly and reliably online? With our NDA checker, the check only takes a few minutes and is also completely free of charge. 

Migration des Vertragmanagements

Es kann immer mal wieder vorkommen, dass Sie Altverträge einscannen, um diese in einem zentralen System abzulegen. Häufig können die Metadaten und Eigenschaften allerdings nicht aus dem ursprünglichen System übernommen werden, ohne diese mit hohem Aufwand manuell aus den Dokumenten herauszulesen. Mit unserer Software können Sie diesen Arbeitsprozess deutlich vereinfachen, indem Dokumente aus verschiedenen Formaten automatisiert umgewandelt und analysiert werden können. Auf diese Weise werden beispielsweise Eigenschaften bezüglich Vertragspartnern, Fristen, Vertragsarten- und strafen erkannt und Metadaten extrahiert.  

If you would like to know more about our artificial intelligence or are interested in a short demonstration of the software, please feel free to schedule a non-binding meeting or contact us with your request at: sales@legal-analytics.org! We are sure that we can also make your daily work easier.

David Schonebeck, Business Development Manager