DealCloser Integrates CoCounsel For AI Doc Review

Transaction Management company DealCloser has struck a deal with Thomson Reuters that brings CoCounsel Legal’s AI document review capability into its deal platform.

DealCloser, which started back in 2017, but has moved with the LLM wave, said that ‘the integration signals a move away from fragmented workflows toward a connected, intelligent transaction environment’.

By embedding CoCounsel Legal directly into the platform they are ‘eliminating the need to move between systems at the most critical stages of a deal’, they added.

Jag Dhariwal, CEO of DealCloser, commented: ‘With the recent launch of Cloe, [our] AI Deal Assistant, we’ve defined a new category of transaction management where analysis, collaboration, and execution are unified in a single system.

‘Bringing CoCounsel, Thomson Reuters AI technology, into that system expands those capabilities and reflects our commitment to continuously integrating leading AI solutions to further support our customers.’

The combo provides:

• ‘Embedded document review: CoCounsel Legal’s capabilities are natively integrated within DealCloser, removing the need for manual uploads to separate tools.
• Reusable AI skills: Create and save customized CoCounsel Legal prompts within DealCloser for repeatable workflows, saving time and ensuring consistent analysis across documents and deals. Then, use Cloe to turn insights into action, such as updating checklists and generating tasks.
• In-workflow analysis: Contracts, amendments, exhibits, and supporting documents are analyzed in place, with key obligations, risks, and issues surfaced in real time.
• Trusted, enterprise-grade AI: CoCounsel Legal is rigorously tested by legal professionals and trusted by more than 20,000 law firms and legal departments, with ongoing validation to ensure accuracy across complex legal tasks.’

Is this a big deal?

Just yesterday, iManage – a DMS business – announced that they were expanding their ability to do AI-driven contract review with a new playbook analysis feature, now, today, DealCloser – which has been focused on handling transactions – is going to do contract review with AI as well. In this case using the CoCounsel offering.

It looks to AL that something bigger is going on here than just a couple of companies now doing contract review work – this is about expanding your offering into a much wider collection of skills and features at a time when broad productivity platforms – along with the foundation model companies themselves, such as Anthropic – are threatening to eat every point solution’s lunch.

By bringing in more capabilities under the roof of one brand, one contextual experience, you get to keep – it’s hoped – more of the lawyer’s attention. You make your offering more valuable.

That said, there are now dozens of contract AI offerings in the market, whether standalone, or part of a much wider collection of legal tech features.

Inevitably, lawyers will become accustomed to the one or two they like to use best and then stick with them. That one may be as here – added into a very specific tool – or it may be a point solution on its own, or it could be attached to a very chunky platform with a dozen other key aspects and data stores. And some may even go the open-source and/or ‘direct to LLM’ route. In short: a massive amount of choice and wide range of formats.

Overall, if you want to review a contract with AI there has never been so much choice. But, as noted, this is more than about choice. It’s about building out your platform. And this helps TR as well, as at least those users of DealCloser may choose to stick with CoCounsel for doc review, rather than move over to one of the many competing tools outside of the TR world.

More about DealCloser here.

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