ThoughtRiver simulates the initial assessment process performed by a paralegal. It goes beyond simple contract clause search and generates a detailed party-specific summary of obligations, liabilities and other meta-data from the contract. Each agreement, and its component issues, is assigned a risk rating based on your organisations’ specific risk policies. The pre-screening output is captured and presented in various reporting formats to be fed into downstream workflow or management reporting.
With its extensive and continually growing contract description framework, ThoughtRiver has been designed to deliver value quickly to busy legal and commercial teams with frictionless implementation.
- Barry Rodick, Product Owner
How do we do this?
ThoughtRiver™ worked closely with senior natural language processing and machine learning experts at Cambridge University to create the Fathom Contextual Interpretation Engine™ which underpins our intelligence. Fathom lets you know the meaning of clauses, and what they mean to you.
Our experienced lawyers – and our partners who are domain experts – have developed the Lexible™ contract description framework, which is an ontology of datapoints that encapsulates complex legal logic and relationships present in an agreement. It includes thousands of individual questions that together build a granular picture of obligations and rights within a document.