The latest product, Luminance Corporate, can perform a first-pass review of a contract: a new document is entered and then automatically compared to previous contracts in the system, which then can, for example, identify missing or excess clauses compared to those typically contained in contracts of the same type.
Fully integrated with Microsoft Office, it can also automatically replace the text of a clause with terms that were previously approved or used by other legal professionals at the firm.
“For years Portolano Cavallo has used Luminance machine learning technology to streamline the contract review process, as well as M&A due diligence, and to support our legal team in handling disputes, arbitration, and internal investigations. With Luminance Corporate, our firm will be the first in the legal field to allow its attorneys to tap the potential of artificial intelligence applied to the entire range of legal document review,” says Stefano Ceolin, Chief Innovation and Digital Officer of Portolano Cavallo.
“With Luminance Corporate, attorneys can easily draft, modify, and negotiate contracts for our clients while accessing the vast store of knowledge contributed by other attorneys at the firm,” notes Yan Pecoraro, Portolano Cavallo partner.
Luminance is currently used by more than 400 organizations in 60 countries around the world and is used by organizations that work in more than 80 languages.