AI-powered contract review for faster deals

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February 20, 2023

Maigon

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AI-powered contract review for faster deals

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Maigon AI is a state-of-the-art AI tool for contract review that is designed to save thousands of hours spent on manual contract review. It integrates deep learning technology to ensure maximum accuracy and efficiency.

It is used by large corporate clients with high volumes of data processing agreements (DPAs) and other types of contracts, such as privacy policies, non-disclosure agreements (NDAs), and product supply agreements.

Maigon AI offers document-specific contract review modules and contract type-agnostic API. It can review contracts from the perspectives of data controller, data processor, organization, and data subject.

For DPAs, it provides an instant compliance report with extracted clauses, concepts, terms, highlighted risks, and compliance recommendations. For privacy policies, it provides an instant compliance report with extracted clauses and recommendations.

For NDAs, it provides an instant report with compliance insights and extracted clauses. For product supply agreements, it provides an instant report with insights and extracted clauses.

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Initial release

August 15, 2020

Initial release of Maigon.

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Pros and Cons

Pros

Saves thousands of hours

High accuracy and efficiency

Maximum data processing capability

Instant compliance report

Extracts clauses, concepts, terms

Highlights risks

Provides compliance recommendations

Document-specific contract review modules

Contract type-agnostic API

Different review perspectives

Supports numerous contract types

No pre-training required

Doesn't require client's data

Always aligned with legislative changes

Allows addition of custom rules

Unmatched speed

On-premise availability

Supports over 50 languages

Bilingual contracts supported

Latest deep learning technology

Legal data extraction tool

Extracts clauses and entities

Extracts from any contract type

Extracts from any language

Increases productivity

Saves time

View 21 more pros

Cons

Review is contract type-specific

Custom playbook setup needed

Accuracy data not provided

No batch processing mentioned

Supports only 50 languages

Insufficient data extraction details

User specific legal question handling unclear

No mobile app support

Limited contract perspectives

No real-time collaboration features

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Q&A

What specific contract types can Maigon AI review?

Maigon AI can review a variety of contract types including data processing agreements, privacy policies, non-disclosure agreements, consultancy agreements, product supply agreements, R&D agreements and end user license agreements.

How does Maigon AI use deep learning technology?

Maigon AI integrates state-of-the-art deep learning technology to achieve maximum accuracy and efficiency in contract review. The specifics of how it applies this technology are not explicitly stated in the information provided.

Does Maigon AI require data from users for training purposes?

No, Maigon AI does not require users to provide data for training purposes. Instead, Maigon AI collects and labels the datasets manually.

Can Maigon AI help assess risks in contracts and provide compliance recommendations?

Yes, Maigon AI can assess risks in contracts and provide compliance recommendations. For data processing agreements, it provides an instant compliance report with extracted clauses, concepts, terms, highlighted risks, and compliance recommendations.

Does Maigon AI provide industry-specific contract review solutions?

Yes, Maigon AI offers industry-specific contract review solutions. The industries are not explicitly stated, although examples of contract types suggest it covers sectors such as data protection, confidentiality, commercial contracts, software licensing, and general data extraction.

What perspectives does Maigon AI offer for contract review?

Maigon AI offers the option to review the contract from various perspectives. These perspectives could be a data controller, data processor, organization, data subject, supplier, client, disclosing party, receiving party, or customer, depending on the contract type.

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Can Maigon AI review contracts in multiple languages?

Yes, Maigon AI provides support for more than 50 languages and also has the ability to handle bilingual contracts.

What is the Extraction API provided by Maigon AI?

The Extraction API provided by Maigon AI is a cutting-edge tool that uses AI to extract clauses and entities from contracts of any type and in any language, revolutionizing the way users access legal data from contracts.

Does Maigon AI offer an on-premise solution?

Yes, Maigon AI offers an on-premise solution to meet the highest security standards.

How does Maigon AI keep its contract review solutions up-to-date with legislative changes?

Maigon AI ensures that its solutions are always aligned with the latest legislative changes.

How does Maigon AI help with the review of data processing agreements?

For data processing agreements, Maigon AI provides an instant compliance report with the extracted clauses, concepts, terms, highlighted risks, and compliance recommendations. This review is used prominently by large corporate clients with high volumes of data processing agreements.

What benefits does Maigon AI offer for privacy policy review?

For privacy policy review, Maigon AI provides an instant compliance report with extracted clauses and recommendations. It is frequently used for reviewing privacy notices of websites and mobile applications.

How does Maigon AI streamline non-disclosure agreement reviews?

In the process of reviewing non-disclosure agreements, Maigon AI provides an instant report with compliance insights and extracted clauses, following established standards and best practices.

Can Maigon AI review consultancy agreements and product supply agreements?

Yes, Maigon AI can review consultancy agreements and product supply agreements. The solution provides an instant report with insights and extracted clauses.

How can Maigon AI assist with reviewing end user license agreements?

Maigon AI reviews end user license agreements for compliance with established standards and best practices. This process uses an instant report that includes insights and extracted clauses.

Can Maigon AI be used with contract platforms through API integration?

Yes, Maigon AI can be integrated with contract platforms through its API to provide richer insights to users.

Which industries most frequently use Maigon AI for contract review?

Specific industries are not mentioned. However, based on the types of contracts Maigon AI can review, it is plausible that it is used across data protection, confidentiality, commercial contracts, software licensing, and general data extraction sectors.

Does Maigon offer custom contract review solutions based on an organization's guidelines and practices?

Yes, Maigon AI helps users add their own rules into the standard solutions to address their organization's review guidelines and practices.

Is a demo of Maigon AI's contract review solutions available?

Yes, a hands-on preview of Maigon AI's solutions is available upon request.

How does Maigon AI handle bilingual contracts?

Yes, Maigon AI is capable of handling bilingual contracts along with supporting more than 50 languages.

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