Toronto-based Diligen, which has developed an AI-enabled contract assistant, announced that it has extended its platform to real estate documents.
Diligen’s assistant focuses on streamlining the contract review process, which includes sorting documents, summarizing contracts, and spotting critical provisions. Diligen for Real Estate will allow lawyers to identify provisions, clauses, and contractual obligations that are important to real estate law practices.
“Teams doing lease review have a key opportunity to innovate the otherwise tedious and time-consuming manual effort tied to analyzing contracts and managing the review process,” said Konrad Pola, co-founder and CEO of Diligen. “Diligen is trained to accurately identify over 60 provisions most commonly found in real estate transactions which lawyers can use to identify high priority documents for review. For example, a landlord purchasing a commercial building will need to review all existing leases before they close. With Diligen, they can quickly uncover any provisions that could increase their commercial risk such as rent abatement or early termination, or a right of first refusal on additional space in the building.”
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