Corporate and transactional attorneys now have a way to help ensure that clauses in their legal documents meet current market standards. Thomson Reuters Drafting Assistant has added a new Locate Precedent feature that analyzes document language on a clause-by-clause basis against EDGAR-filed documents, with additional insight from Practical Law What’s Market analysis of recent deals and filings.

Locate Precedent helps ensure that documents reflect the latest market practices. By highlighting a clause in an agreement, a user can compare that language against similar clauses in relevant documents drawn from EDGAR filings. A single search delivers clauses that are intelligently ranked for the specific type of agreement involved. Clauses can be fine-tuned by industry, date, jurisdiction, law firm, governing law or other filters to deliver the most appropriate results. In addition, What’s Market analysis, created by Practical Law experts, provides a deeper understanding of the agreements being compared.

Drafting Assistant is the only end-to-end software available to transactional attorneys for drafting and reviewing legal documents. It reduces errors and cuts proofreading time by intelligently analyzing legal documents for errors, inconsistencies, missing information and more.

“Market standards are continually evolving when it comes to the appropriate language for drafting agreements,” said Joel Hurwitz, senior director of Product Development, Thomson Reuters. “The Locate Precedent feature allows a user to benchmark language against market standards and understand variances in language based on industry, geographic location and other considerations. Locate Precedent gives users confidence that they are using language that conforms to the best guidelines and current market practices.”

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