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Smart drafting, also known as intelligent document automation, has transformed the legal landscape by leveraging technology to streamline and enhance the drafting process. Smart drafting platforms employ machine learning algorithms to analyze existing legal documents, identify patterns and clauses, and generate customized drafts.&nbsp;

LTH Expert

Smart Drafting

Documents are central to a lawyer's work. There are many types of document-related applications that support lawyers, including document automation, drafting tools that ensure consistency of citation, expression, or tables of contents, comparison software to compare versions of documents, and many others. This category includes a number of long established companies like Hotdocs but also companies (like Litera) that are consolidating the market in certain segments. Legaltech Hub has included eSignatures in this category as well as Document Management.

Documents

PDF Editors allow users to read and modify the contents of a PDF document. They generally provide functions such as editing text, changing page layout, and splitting or combining files. They also often include OCR (Optical Character Recognition) capabilities. Some of the newer PDF editors such as Macro also allow for more intuitive reading of PDFs by breaking them down into sections and allowing users to jump from one section to the next, even on mobile.

PDF Editor

In recent years, solutions have developed that make it easier for lawyers to read, review and analyze legal documents such as contracts. These solutions typically break down legal documents into their composite parts and are able to reveal aspects of a document to reviewers at will, for example by opening defined terms in a separate panel that can be accessed alongside the core document, or by moving seamlessly between sections of a document. Similar to certain proofreading solutions, these tools will also often point out discrepancies and inconsistencies within a document, allowing lawyers to more easily identify and correct errors.

Document Analysis

eSignatures or electronic signatures are a legally binding way to sign electronic documents as opposed to "wet ink" signatures. This category also includes on-line notarization software. Legaltech Hub does not include in this category broader products where one feature of the product is digital execution. Companies in this space include Docusign and Adobe Sign.

eSignatures and Notarization

Co-authoring allows several users to access and edit documents simultaneously. Google Docs is the leader. However, many law firms block access to Google Docs due to security concerns. Scribestar was developed specifically for co-authoring of capital markets documents.

Co-Authoring

Comparison software compares two versions of a document and redlines the versions to highlight differences. Litera Workshare Compare and NOVO Compare are examples.

Compare

Software in this category organizes defined terms and enables users to identify errors made in defined terms. Oftentimes this functionality is part of other programs that check for more anomalies in documents, such as Litera Contract Companion. Other providers include LexDye Definition Tracker and Define.

Defined Terms

Drafting Tools assist users in drafting better documents. Specifically excluded are document automation tools as that is a category of its own. Functionality covered by solutions in this category include identification and resolution of grammatical and substantive errors and inconsistencies, finding connections and important information in documents, citation checkin, creating, automating and managing Styles within Microsoft Word. Litera Clause Companion, Docstyle, Citeright, and Litera Best Authority are among the products in the category.

Drafting Tools