Contract Summarization and Abstraction. Whether in connection with implementation of a new contract management system, an analysis of a company’s contract risks, or in connection with an inventory of a company’s contracts, we have extensive experience abstracting and summarizing contract terms from basic metadata to highly complex provisions. On one particularly complex engagement, we abstracted more than 500 terms from each contract in context of reviewing M&A transaction agreements.
Our contract abstraction and summarization team, comprised of more than 100 fulltime dedicated professionals, has reviewed tens of thousands of contracts, while managing multiple concurrent work streams. Our team structure, review methodologies, and process discipline, combine to provide a sustained level of service and review capability that delivers exceptional results.
- collecting documents across multiple corporate entities and locations
- reconciling contract sets to identify missing documents, and locate amendments, renewals and terminations
- analyzing contracts and abstracting material rights and obligations to client templates
- reviewing contracts to identify provisions that may pose legal or business risks
- creating reports to summarize risks or actions required, and
- providing summary reports to identify potential high risk contracts for specificactions
QuisLex is familiar with many of the technologies available for performing contract abstraction, and the benefits these may provide. If appropriate on a project, we choose the most suitable technology based on its ability to increase production speed through first-pass extraction of data, and potential for reducing costs through reduction of associate time.