From the source
Why we made the shift, how we measure quality in a domain where "correct" is a matter of legal judgment, and what the new architecture unlocks.
Companies run their businesses with contracts and almost all contracts get negotiated.
According to Gartner, legal departments spend 21% of their capacity on contracting, which is more than any other activity.
Reviewing a contract typically takes between 20 minutes to five hours, depending on contract type and size.
When a company receives a contract from a counterparty, someone in their legal department compares it, clause by clause, against their company’s playbook — an internal rulebook that companies define to codify which terms are acceptable, negotiable, or dealbreakers.
Then they mark up the document with redlines, comments, and send it back to the counterparty for review.
This goes on until both parties agree to mutually agreeable terms.
Earlier this year, we rebuilt Harvey's playbook review engine from the ground up to make it even more effective in reducing the toil of contract review for our users.
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