The LegalSIfter Review Document Abstract is a whole new way to add value to your organization. The Document Abstract instantly summarizes the terms of your contract, with the overlay of our AI-powered issue spotting and expert advice. In just a few seconds, our product generates a report that would take hours to prepare manually.
The Document Abstract automatically populates with the name of the Sifted Document, the Document Type used to Sift the Document, the organization name and the date the Document was Sifted.
The information in the Document Abstract is organized into three categories - high priority Sifters, medium priority Sifters and low priority Sifters.
Missing Sifters included in the High priority Sifters category represent many of the most important provisions that you may want to insert into the Document to protect your commercial interest. These are Sifters that are set to warn if missing in your Document Type. High priority found Sifters flag key provisions that you should pay close attention to before signing off on the document. These are Sifters that are set to flag if found in your Document Type.
For each Missing Sifter, the abstract includes the name of the Sifter and the Advice for that Sifter.
For each Found Sifter, the abstract lists the name of the Sifter, the text in the document located by the Sifter (labelled "Found Text") and the Advice for the Sifter. If the Sifter returned more than one result there will be a count of the results next to the name of the Sifter.
If you keep scrolling down you will see the medium priority Sifters. These Sifters highlight concepts that typically pose less commercial risk than high priority Sifters and are less likely to be negotiated or revised. Sifters included in the medium priority category are those Sifters set to display if found and display if missing in your Document Type.
The last category in the document abstract is low priority Sifters. This category includes Sifters set to ignore if found and ignore if missing in your document type. That means that you will not receive any results from these Sifters in your Sifted Document, but these Sifters are included in the abstract so that you will have a checklist of these potentially low risk items.
To generate the Document Abstract you first need to Sift a Document. After you Sift the Document you can access the Document Abstract in two ways.
First, you can go to the Documents tab (if you are not there already) and check the box or click the arrow next to the appropriate Sifted document. Then click on Document Abstract or Abstract and the report will generate. We recommend accessing the report this way if you just want to see the Document Abstract and do not need to open or have already opened your Sifted Document.
The other way to access the document abstract is in your Sifted Document. Simply click the Document Abstract button to generate the abstract.