ThoughtRiver

TL;DR

AI contract review platform that analyzes contracts in minutes with 97.3% accuracy using 4,150+ pre-trained legal concepts
Automates redlining, risk identification, and contract portfolio analysis to accelerate legal workflows
Ideal for in-house legal teams, law firms, and procurement departments handling high contract volumes
Enterprise-grade security with ISO 27001 certification and Microsoft Azure infrastructure

What is ThoughtRiver

ThoughtRiver is an AI-powered contract review and analysis platform that leverages machine learning trained by expert lawyers to automate contract review processes. The platform uses 4,150+ pre-trained legal concepts to identify risks, suggest clause edits, and extract key terms from contracts with 97.3% accuracy. As an AI Legal Assistant solution, ThoughtRiver transforms hours of manual contract review into minutes of automated analysis, enabling legal teams to focus on strategic work while maintaining consistency and accuracy in their contract workflows.

Key Features

AI-Powered Contract Review: Analyzes contracts in under 3 minutes using 4,150+ pre-trained legal concepts, delivering 97.3% accuracy that surpasses manual review rates
Automated Redlining: Lexible® Assistant automatically applies redlines based on your playbook preferences, creating negotiation-ready documents without manual intervention
Portfolio Analytics: Extracts and analyzes key terms across entire contract portfolios, providing actionable insights for risk management and strategic decision-making
Agentic Legal Assistant: Provides instant, grounded answers to contract questions with deep contextual understanding, eliminating the need for time-consuming manual searches
Seamless Integration: Offers easy setup with existing legal tech stack, real-time data syncing, and custom integration options for enterprise workflows
Enterprise Security: ISO 27001 certified platform with patented anonymization, data encryption, TLS 1.3, and private model options running on Microsoft Azure

Who is ThoughtRiver for?

In-House Legal Counsel: Corporate legal departments managing high volumes of vendor contracts, NDAs, and commercial agreements
Law Firms: Legal practices seeking to increase efficiency in contract review services and due diligence projects
Procurement Teams: Business units requiring rapid contract review for supplier agreements and purchasing contracts
Legal Operations Managers: Professionals focused on optimizing legal workflows and reducing contract cycle times
Contract Managers: Teams responsible for maintaining contract compliance and managing large contract portfolios
Construction & Engineering Companies: Organizations dealing with complex appointment agreements and subcontractor contracts

Key Use Cases & Applications

High-Volume NDA Processing: Automate review of non-disclosure agreements for sales and partnership discussions, reducing turnaround from days to hours
Vendor Contract Risk Assessment: Quickly identify liability caps, indemnification clauses, and payment terms across supplier agreements
M&A Due Diligence: Analyze hundreds of contracts during acquisitions to identify change of control provisions and key obligations
Contract Portfolio Audits: Extract expiration dates, auto-renewal clauses, and termination rights across entire contract databases
Procurement Contract Standardization: Ensure consistent terms and risk profiles across all purchasing agreements
Real Estate Lease Analysis: Review commercial leases for rent escalation clauses, maintenance obligations, and exit provisions

Pros

Exceptional accuracy rate of 97.3% outperforms manual review by experienced lawyers (86% average)
Dramatic time savings with complex contracts reviewed in under 3 minutes versus 4 hours manually
9+ years of legal AI training ensures mature, reliable technology backed by expert lawyer input
Comprehensive pre-trained concept library with 4,150+ legal concepts covers most contract types without extensive customization
Enterprise-grade security with ISO 27001 certification, patented anonymization, and private model options
Proven ROI with testimonials showing 85% speed increase and significant cost savings

Cons

Learning curve for playbook customization requires initial time investment to configure automated redlining rules for specific business needs
Limited transparency in AI decision-making may require legal teams to verify complex interpretations manually
Potential over-reliance on automation could diminish junior lawyers' contract review skills development
Subscription costs scale with usage making it potentially expensive for organizations with fluctuating contract volumes

Pricing Info

Pricing Plans:

Professional - From £15,000/per year - For all teams who review 20-50 contracts monthly.
- Unlimited Users
- Private Database Instance
- Word Add-in
- Lexible Assistant
Enterprise - From £30,000/per year - For high-volume teams who review 50+ contracts a month.
- Unlimited Users
- Private Database Instance
- Word Add-in
- Lexible Assistant
- SSO (Single Sign On)
- Dedicated Customer Success
- Dedicated Professional Services

Free Trial: 28-day free trial available

FAQs

How accurate is ThoughtRiver compared to manual contract review?

ThoughtRiver achieves 97.3% accuracy in contract review, which is significantly higher than the 86% average accuracy rate of qualified lawyers reviewing the same contracts manually. The platform has been trained on over 9 years of legal data and uses 4,150+ pre-trained concepts to ensure comprehensive coverage.

What types of contracts can ThoughtRiver review?

ThoughtRiver can review a wide variety of commercial contracts including NDAs, vendor agreements, service contracts, licensing agreements, employment contracts, and complex supply agreements. The platform's 4,150+ pre-trained concepts cover most standard business contract types.

How long does it take to implement ThoughtRiver in our workflow?

ThoughtRiver offers an easy setup process with a 28-day free trial to get started. The platform provides seamless integration capabilities with real-time data syncing and custom integration options. Implementation timelines vary based on your specific requirements and existing tech stack.

Is our contract data secure with ThoughtRiver?

Yes, ThoughtRiver maintains enterprise-grade security with ISO 27001 certification, data encryption, TLS 1.3 protocols, and runs on Microsoft Azure. The platform also offers patented anonymization technology and private model options for organizations with strict data requirements.

Can ThoughtRiver be customized for our specific playbook and risk tolerance?

Yes, ThoughtRiver's Lexible® Assistant can be configured to apply your specific playbook rules automatically. The platform allows customization of risk thresholds, preferred clause language, and negotiation positions to match your organization's standards and requirements.

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