Clearlaw, an emerging LegalTech company specializing in contract-focused Natural Language Processing (NLP) and Contract Data Extraction, released an upgrade that doubles the number of data categories that the Clearlaw Platform identifies and extracts from legal contracts and documents.
“The new data categories and legal obligations that we have added within the last several months speaks to the strength of our underlying platform,” said Clearlaw CEO Jordan Ritenour. “We expect to continue and accelerate the development of these features over the course of the next year. As our platform expands its capabilities, we expand our clients' abilities to automate additional legal and business processes by leveraging through the use of that contractual data.”
The increase in data categories from the Clearlaw platform includes new clauses and sub-clauses, as well as the expansion of legal obligations identified within existing clauses. This deeper level of data identification gets to the root of contractual meaning and provides organizations with an understanding of their true legal obligations, regardless of contract structure. This data can then can be automatically compared to legal playbooks and against their preferred legal standards across contractual templates to help identify and mitigate risk.
At the time of this release, the Clearlaw platform accurately extracts over 230 categories of data from legal documents, with a robust pipeline of additional data points coming from new and existing clients.