iCrowdNewswire Feb 3, 2021 7:00 AM ET
LexCheck’s Artificial Intelligence (AI) powered contract negotiation platform is transforming contract negotiations for many of the world’s largest enterprises.
LegalWeek, New York City, February 3, 2021 /Legal Newswire/ — LexCheck, a global provider of the world’s only AI-powered contract negotiation platform providing near instantaneous attorney-quality redlining and guidance for virtually all business agreements while ensuring compliance with organizational playbook guidance, today announced a major update to its AI Contract Negotiation platform. LexCheck’s second-generation AI platform, LexCheck Negotiation Hub, expands on LexCheck’s core contract review capabilities to now support multi-round negotiations with sophisticated position and fallback Digital Playbook management capabilities.
“This is super impressive technology,” said Gary Sangha, CEO and Founder of LexCheck. “We’ve achieved another industry first by enhancing our market unique contract negotiation AI platform to yet another level of sophistication, addressing the real-world needs of commercial business contracts. As impressive as LexCheck’s ability to produce attorney-quality agreement review in just minutes, now LexCheck can support multi-round review cycles and automatically advise of situationally specific fallback positions – with the LexCheck AI adjusting contract language based upon client-specific negotiating priorities and preferences.”
New features and enhancements include:
- Full AI-powered multi-round negotiation support
- Negotiation-aware and context-sensitive AI Playbook integration
- Intelligent fallback, auto-revision, previewing, and overrides
- Native Microsoft Word AI markups and analysis
- Negotiation Terms monitoring and auto-approval escalation
- Secure negotiation audit trail for all parties
“This upgrade will further accelerate and enhance LexCheck’s clients’ business contracting efforts by eliminating countless hours of contract review no matter what stage the contract is in,” said Michael Ross, CTO of LexCheck.
LexCheck is improving the way corporate legal works by employing AI to entirely automate the process of an in-house attorney’s review of common contract agreements. Employing state of the art AI technology, LexCheck can completely replace the need for human review of commonly executed agreements. LexCheck does not just negotiate an agreement as an experienced attorney would; LexCheck negotiates an agreement the same way a given company’s own in-house attorney would negotiate, adhering to the company’s own internal negotiation playbook and best practices. LexCheck is the world’s most effective AI-based contract negotiation solution, delivered by qualified legal professionals who work closely with their clients to incorporate their unique negotiating positions into the LexCheck AI. For more information, visit www.LexCheck.com.
Keywords: Contract Management, Artificial Intelligence, AI, Legal Technology, Contract Review, Contract Negotiation