Computers will assist us in drafting
legal documents. This is how.
The concept of using a question-and-answer format on top of a smart template to generate documents has existed for decades. It never became a mainstream product for professionals because people who have the legal know-how were reluctant to automate the process. As such, technology is not the bottleneck; attorneys willing to articulate their expertise onto a template that can accommodate if-then logic have the potential to disrupt many practice areas.
As documents become longer and more complex to deal with ever expanding body of issues in today's transactions (e.g. regulations regarding anti-trust, tax, environment, banking, corporate governance, etc.), they become increasingly error prone as more moving parts are introduced, leading to defined-terms or cross-reference busts. Just as spell-check substantially reduced spelling errors in general, automated tools will play a crucial role in improving the quality of modern legal documents.
Natural language processing is a subset of artificial intelligence and involves tagging each word in a sentence to its function (similar to identifying a word as a 'noun' or 'verb', etc.), and thereafter, finding patterns to distill meaning or extrapolating to generate new sentences. At Celant, we believe that AI is a natural progression in computer assisted legal drafting and are investing in next-generation technologies to improve the efficiency of drafting certain documents by an order of magnitude.
Legal practice varies greatly from one practice area to another. Some practice areas are more form-driven, whereas others are more reactive in nature. We don't believe there will be a single tool that will dominate the corporate legal practice; in our view, diversity of tools and compatibility among them will play a key role in bringing the legal industry into the 21st century. Please feel free to browse our products that have been either released publicly or under beta testing.