Luminance

Luminance is an AI-powered software platform that automates the generation, negotiation, and analysis of legal contracts. It utilizes advanced machine learning techniques to streamline contract management processes for legal professionals and businesses.

Key features:

- Automated Contract Processing: Streamlines the entire contract lifecycle from drafting to negotiation and analysis, including first-pass contract analysis within MS Word, automated contract drafting, and process automation tools.
- AI Chatbot: Answers questions and automatically redrafts contracts based on user input.
- Granular Insight Repository: Provides detailed AI-driven insights into contract data for improved decision-making.
- Anomaly Detection: Instantly identifies irregularities in contracts to ensure compliance and reduce risk.
- Extensive Concept Recognition: Recognizes over 1,000 legal concepts out-of-the-box, expandable by users through a point-and-click interface.
- Automatic Compliance Checks: Ensures all clauses and documents meet compliance standards.
- Collaborative Workflow Tools: Facilitates teamwork across legal teams and other departments.
- AI-Powered Early Case Assessment: Enables powerful searching and culling of documents for legal cases.
- Conceptual Data Understanding: Analyzes and comprehends the conceptual data within legal documents.
- Automatic PII Detection and Redaction: Identifies and redacts personally identifiable information in documents.
- Language Agnostic AI: Functions across multiple languages for global use.

How it works:

1. Users access Luminance through a web application integrated with tools like MS Word and Outlook.
2. Contracts are uploaded to the platform for AI analysis.
3. The AI examines contracts for compliance, risk, and other key factors.
4. Users can generate contracts by selecting the relevant type from a drop-down menu.
5. The AI guides users through inputting necessary information and ensures compliance with internal standards.
6. Completed contracts can be sent directly to counterparties via Luminance's Outlook integration.

Integrations:

Microsoft Word, Microsoft Outlook, Salesforce, Virtual Data Rooms (VDRs)

Use of AI:

Luminance employs a proprietary Legal Pre-Trained Transformer (LPT) model that combines generative and analytical AI capabilities. This model enables the software to generate new contract drafts, negotiate terms, and analyze existing contracts for compliance and risk.

AI foundation model:

The Legal Pre-Trained Transformer (LPT) is a proprietary legal Large Language Model developed by mathematicians from the University of Cambridge. It has been trained on over 150 million verified legal documents.

Target users:

- In-house legal teams
- Law firms
- Corporate legal departments
- Non-legal business functions requiring contract generation

How to access:

Luminance is available as a web application. The company also offers API and SDK options for integration with other software systems. It is not open-source software.