Eigen + Law Insider Form Machine Learning Alliance

Eigen Technologies has formed an ‘exclusive partnership’ with Law Insider, the extensive contract database. The deal gives Eigen expanded access to a treasure trove of materials for machine learning to improve its NLP capabilities for contract analysis.

The move goes right to the heart of the central challenge faced by all NLP-based products: getting enough relevant content to train your software to a high level of accuracy. Although there are several public resources, such as EDGAR in the US that covers some of the documentation of publicly listed companies, these are limited and not always relevant to the use cases a legal tech company may need training data for.

The deal with Law Insider, which not only provides whole contracts, but specific clause examples and definitions as well, will be a very useful resource for the research and engineering teams at London-based Eigen.

The legal research library contains material from a range of countries, not just the US, and has in total over 2 million contracts, with around 6 million clause examples. It also has contracts indexed in relation to over 80,000 specific companies.

Part of the Law Insider interface.

As you can see above, just for a ‘change of control’ clause there are hundreds of examples.

Preston Clark, Co-founder of Law Insider, said: ‘Eigen is a true leader in Natural Language Processing, and we’re excited to support Dr. Schiavi and the Eigen team in its innovation to build smarter products for its customers.’

‘Law Insider has historically served a very niche need for corporate attorneys and contract managers, and it’s a big day for us to expand our services and capabilities to support Eigen Technologies.’

Andrea Schiavi, Chief Research Officer of Eigen Technologies said: ‘Law Insider has built one of the most comprehensive contract and clause databases in the world. It has proven an invaluable resource for both our research teams and our broader R&D efforts.’

The move comes after the company, which is backed by Goldman Sachs and Temasek, announced a tripling in recurring revenues and the launch of an EU office in Lisbon. It also has an office in New York.