Clausehound is an innovative legal web service that provides a point of reference for legal insight when drafting, negotiating and managing contracts. Clausehound is disrupting the legal drafting industry by replacing the traditional practices of labour-intensive drafting with innovative machine-learning algorithms that re-index large volumes of legal content, which are converted into annotated curriculum and interactive learning materials. This helps to provide both substantive training that is scenario (not lecture) based, and experiential training in online classrooms. Our training tools also capture practitioner “tacit” knowledge (both trainee and trainer) within the learning portal – so that training notes can be retained for future “deal prep”.
Based in Toronto, our services have a global reach, with incubators, accelerators, universities and entrepreneurs using our products throughout Canada as well as in New York City.
Business school curriculum often leaves new bankers, venture capitalists marketers, entrepreneurs and professionals in various business roles unprepared for the volume and detail in “deal” documents. Employers, in aggregate, spend billions of dollars recruiting and onboarding new employees. Our Negotiopedia and Deal Prep software helps trainees to prepare ahead of time to familiarize themselves with the transaction documents that will become part of their day-to-day activities upon graduation, benefiting both students and organizations (student-organizational fit increases, and the cost of employee onboarding is reduced).
Our blended approach to online training first provides trainees with substantive learning points, and then crystallizes those points in online live negotiations to create a solid learning experience. Trainees value the heightened understanding of the materials. Instructors and organizations are able to validate “deal literacy” for students and employers through our online tracking and engagement metrics, and also within sessions. In our training sessions, employers are expressing excitement over the “deal aptitude” testing. In terms of market validation, we have onboarded users through nearly fifty learning and innovation space customers (colleges, universities, incubators and accelerators), and have iterated our product experience as a result of customer feedback and feature requests.
Private Beta Launch Summer 2015
Legal Knowledge and Research, Document Assembly
Law Firms, Lawyers, Law Students, In-House Lawyers and Legal Departments