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Taylor Vinters & ThoughtRiver Partner to Establish Automated Contract Review Service

Taylor Vinters & ThoughtRiver

Taylor Vinters partners with ThoughtRiver, a leader in intelligent contract pre-screening, to offer a new contract review and risk assessment service

United Kingdom: International law firm Taylor Vinters, entered into an agreement with the legal tech company ThoughtRiver to provide a more efficient non-disclosure agreements (NDA) review service for in-house counsels and lawyers. The partnership will begin with ThoughtRiver offering a full-service package to customers looking for assistance on the 3rd party non-disclosure agreements (NDAs) that they receive. This partnership will allow the users of contract review software ThoughtRiver, to make use of a standard observed and approved by law firm Taylor Vinters by making a purchase on the platform. Additionally, this collaboration will allow Taylor Vinters to offer their legal services faster and for a lower price in comparison to other traditional means of legal consultation.

CEO of Taylor Vinters stated that, “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. We’re excited to have worked with ThoughtRiver to develop cutting edge new business and technology frameworks which will have a genuine impact on the service we can provide to our clients, opening up what we have to offer to a much larger audience.”

CEO of ThoughtRiver further said that, “We’re delighted to announce the first of what I’m confident will be many partnerships of this nature. Taylor Vinters is an entrepreneurial trend-setter, and I’m proud that we will be extending our close working relationship ever further, while democratizing the availability of legal services to the wider public and businesses.”

According to TechSci Research, major law firms in the United Kingdom are collaborating with IT companies in order to provide technology driven legal services to their clients. One such collaboration was between doc automation company Clarilis and UK law firm TLT. TLT also made a similar deal with US legal AI review company, LegalSifter. These collaborations have been a key catalyst in this partnership. This partnership aims at offering cheaper and efficient legal services to its customers.

The software uses AI to scan and interpret information from written contracts used in commercial risk assessments and produces visualizations of the potential risks and other issues. The software catches risks both (compliance & commercial), which generally get missed and brings the data alive with compelling visuals and puts powerful quantitative insights into the hands of risk management and legal staff. This in turn helps the corporate counsel in improving the performance and decision-making process.

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