Litera in-house incubator rolls out AI deal term database

Litera has announced the rollout of generative AI deal term database Foundation Dragon, which was developed by its in-house AI incubator.

The tool, which is integrated into the existing Foundation platform, provides access to relevant data from past corporate transactions. It collates unstructured data from firm documents and uses AI to sort large sets of deal data in order to determine relevant market terms.

“Some of the most prestigious transactional practices have started to put their collection of proprietary deal points at the centre of their pitch to clients, offering a differentiated ability to negotiate better terms. With Dragon, the value of this data is fully unlocked for deal lawyers and gives them an edge in the negotiation process”, Litera head of product Adam Ryan said. “By leveraging AI to perform this highly manual work, Litera is seamlessly combining two valuable data sets – deal terms and experience – and making this data accessible to more firms”.x