Earlier this year doc automation company, Clarilis, partnered with UK law firm TLT to support a dedicated stream of tech-enabled services to its clients. TLT has also made a similar ‘reseller’ deal with US legal AI review company, LegalSifter.
In the initial stages of the Taylor Vinters deal, they will offer a full-service package to clients looking for review and risk assessment of 3rd party NDAs that they receive, using ThoughtRiver’s technology.
Taylor Vinters, which is a financial backer of ThoughtRiver, hopes that by doing so it will be able to offer its business customers NDA review services at a ‘more affordable rate’ in a ‘fraction of the time’ of a traditional process.
The system combines the legal knowledge and experience of Taylor Vinters and ThoughtRiver’s Lexible framework, which is their flagship NLP product.
Commenting on the deal, Tim Pullan, CEO of ThoughtRiver, said he expects there will be many partnerships of this nature to come.
‘Taylor Vinters is an entrepreneurial trend-setter in its own right, and I’m proud that we will be extending our close working relationship ever further, while democratising the availability of legal services to the wider public and businesses,’ he added.
Matt Meyer, CEO, Taylor Vinters, said: ‘This new technology allows us to take a pioneering step forward within the professional-level legal services landscape – to position law as a commercial service model.’
ThoughtRiver’s partnership with Taylor Vinters follows its September announcement of an integration with data visualisation system Tableau, aimed at boosting contract risk analysis for clients, as well as a Microsoft Word plug-in.