Luminance

Key Features:

• AI-Powered Document Understanding: Luminance leverages Artificial Intelligence (AI) to meticulously read and form a conceptual understanding of documents. This is not confined to just English but extends to documents in any language, making it a versatile tool for global operations. The technology was crafted by mathematicians from the University of Cambridge, which lends a robust foundational basis to its capabilities. The AI's ability to comprehend the context and the content of documents aids significantly in various legal matters ranging from contract drafting, negotiation, review to investigations, and eDiscovery.
• Interactive Data Representation: Once the AI processes the documents, Luminance presents its analysis to the users through a series of interactive widgets. These widgets are designed to highlight key data points or anomalies that might need attention. This interactive representation of data not only makes it easier for individuals to grasp the insights but also speeds up the process of reviewing and acting on the information derived from the documents. For instance, it visually represents insights across document types, clauses, anomalies, currencies, languages, and regions
• Cloud-Based & Out-of-the-Box Deployment: Luminance is a cloud-based application, which makes it highly accessible and easy to deploy. The cloud-based nature ensures that the users can access the platform and the data anytime, anywhere, which is crucial for legal professionals who might be working across different time zones or locations. Furthermore, Luminance is designed to work out-of-the-box, meaning it requires minimal setup or configuration

Main Use Cases:

• Rapid Data Room Understanding for M&A Due Diligence: In the realm of mergers and acquisitions (M&A), due diligence is a cardinal step, and having a rapid understanding of the data room is indispensable. Luminance shines in this scenario by employing its AI to analyze the structure and key features of the data room instantaneously. It labels key information such as document and contract types, clauses, languages, and governing laws present, alongside a plethora of other vital data points.
• Contract Negotiation and Drafting: Contract negotiation and drafting are foundational to legal work, and having a tool that can assist in these processes is invaluable. Luminance’s AI-powered document understanding aids legal professionals in quickly identifying standard clauses, deviations from the norm, and other critical elements within a contract.
• Compliance Checking and Risk Assessment: With the constantly evolving regulatory landscape, ensuring compliance and assessing risks associated with contracts and other legal documents is crucial. Luminance can be employed to automate the compliance checking process by identifying and flagging any clauses or terms that might be in violation of current laws or regulations.