ThoughtRiver

Developed by ThoughtRiver’s lawyers and its partners who are domain experts, Lexible is a universal contract description framework that uses 1000s of data points to build a detailed picture of legal obligations and rights within any legal agreement. Lexible comes pre-programmed with thousands of questions posed by real lawyers. It works by first deploying a sophisticated language processing (NLP) engine developed in collaboration with Cambridge University. This allows it to understand the meaning of the words within an agreement. ThoughtRiver can then ask and answer thousands of questions according to their Lexible framework to build a detailed picture of the obligations and rights within the agreement. All of this data is then summarised into clear, actionable advice.

It also aims to promote partnerships with ThoughtRiver to legal service providers who can create new sources of income using its services. For example, by configuring the platform to answer specific questions and identify certain risks, legal service providers can allow their clients to review contracts on the ThoughtRiver platform through a sub-account. This review takes minutes, not hours, which creates an opportunity for a profitable and repeatable new revenue stream. The company aspires to make its technology available and accessible to companies around the world. ThoughtRiver works with in-house legal teams, general counsels and law firms.