Henchman broadens focus from contract tailoring to AI-driven contract negotiation

Global News

21
Jun
2023

Editor

Henchman, the fastest contract drafting experience ever made, today announced the launch of a suite of capabilities designed specifically to help lawyers review and negotiate contracts effortlessly.

This new offering allows legal professionals to save countless hours in understanding any contract's terms and conditions, highlighting risks or relevant information, and reworking what's necessary to ensure all parties are treated fairly. As icing on the cake, a revamped user interface makes it even more convenient to tap into their team’s collective knowledge. The launch of Henchman’s Review capabilities propels Henchman’s growth beyond contract tailoring to reviewing and negotiating, expanding its reach within the contract lifecycle.

“It's great to see Henchman evolve from a legal [clause] search engine to a true personal assistant for contract drafting. Henchman's Review launch is a testament to this evolution, and I'm excited to be part of this journey.” – Stanislas Richoillez, Partner at French law firm BG2V

Henchman’s review capabilities are available today and include:

1. Intelligent actions: Lawyers will be able to review and assess contracts quickly with the help of Henchman’s advanced document processing power. Protect each party’s interests with actions such as “cause and effect”, “summarize”, and more. 
2. Similarity search: Lawyers can now simply drag and drop any clause or definition from their contract into Henchman. The technology will automatically recognize the clause and will suggest relevant precedents. Find similar results with the help of semantic search (eg. for your Failure clause), or explore variations within the same theme (eg. for your Audit clause).
3. Interact with your contract: Henchman analyzes your entire contract, making it fully searchable with the help of any prompt you can think of. Both summary and sources are included when answering.
4. Contract outline: Henchman automatically converts contracts’ entire document styling to a fully interactive table of contents to help lawyers understand a contract better without scrolling endlessly through all pages.
5. Advanced filtering: Whether lawyers want to find precedents based on contract type, stemming from contracts signed by a counterparty or labeled as ‘verified’ by their knowledge manager – a rich set of filtering methods helps to identify what matters most.

Ideally, any lawyer can incorporate Henchman’s review functionalities in one natural flow. If they’re working in a Share Purchase Agreement, they can quickly ask ‘What is the liability cap of the seller in this contract?’ to not only understand this liability cap – the lawyer will be able to get a complete overview of all references to this Liability clause. When making changes to this clause, they can get inspired by similar clauses from different contracts, make changes when necessary, and add any updates right back into the contract – without messing up the existing contract layout and keeping tabs on everything with track changes.

“Henchman’s Review launch aims to make lawyers more efficient when negotiating complex contracts by leveraging their team’s collective data – securely – with the help of both AI as well as our native capabilities.” Julien Steel, Henchman’s Head of Product says. “Expanding our product to cover the review and negotiation use cases seamlessly follows our earlier release of our AI Clause Assistant, which uses GPT on top of a law firm’s own contract data to ensure anyone’s highest security standards are met – whether it are boutique law firms like BG2V or larger enterprises such as CMS, Cuatrecasas or ISS. The Henchman product is ISO 27001 certified and GDPR compliant, and will be SOC 2 certified by the end of summer.”