ARLINGTON, Va., Jan. 26, 2021 /PRNewswire/ -- Bloomberg Law announced today key enhancements
to its Draft Analyzer tool, which streamlines the process of
reviewing, analyzing, and drafting merger agreements. For more
information and to schedule a demo, visit
http://onb-law.com/MunL50DhFo6.
Draft Analyzer is a drafting workflow tool for transactional
attorneys that uses a proprietary algorithm to benchmark the user's
submitted text against similar provisions from agreements filed as
exhibits in the SEC's EDGAR database. The new enhancements for
merger agreements include easy access to market standard language
for clauses in the agreement, a new user interface to speed up
document navigation and review, the ability to quickly review
definitions for all terms defined in the agreement, and
clause-specific expert drafting and negotiating guidance.
The enhanced Draft Analyzer increases efficiency in output for
M&A attorneys at law firms and corporations by reducing the
hours spent reviewing drafts and searching for language in similar
deals. 85% of beta testers agreed that Draft Analyzer will reduce
time spent reviewing and analyzing a merger agreement, and 97%
agreed that it will help reduce time spent identifying standard
language.
In the coming months, the Draft Analyzer enhancements –
currently limited to merger agreements – will be expanded to
include stock and asset purchase agreements as well.
"We know that reviewing, drafting, and negotiating agreements
are part of transactional attorneys' day-to-day practice, and the
newest enhancements to Draft Analyzer allow users to save time and
effort," said Joe Breda, president
of Bloomberg Law. "Draft Analyzer
joins Brief Analyzer and other innovative Bloomberg Law resources that increase
efficiency, all on a single platform and for a single price."
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SOURCE Bloomberg Law