There is no better illustration of drafting inefficiencies than the never-ending quest to identify market-standard language for particular clauses. In a scene familiar to transactional attorneys, the search for market-standard language can be manual, time-consuming work, as associates scour transaction after transaction.
3. Harness the Power of Technology
Driven by machine learning and natural language processing, Bloomberg Law’s Draft Analyzer provides efficiencies and insightful analysis that help streamline an attorney’s workflow.
Draft Analyzer broadens the toolkit available to lawyers working on M&A transactions to maximize efficiencies across all four corners of the merger agreement drafting workflow: reviewing, drafting, writing, and negotiating.
These are the five integrated features that allow M&A attorneys to stay on task with one tool on one research platform.
- Interactive Clause Outline
Upon document upload, a clause outline of the entire merger agreement is displayed in the left panel. Each section of the clause outline is hyperlinked, jumping the user to a given section and clause.
- Definition Extraction
All definitions within the document are hyperlinked, allowing users to surface them with a single click. Draft Analyzer also identifies the section where the term is defined, such as in the preamble, clause, or other given section.
- Market-Standard Analysis
This feature offers real-time insights into market criteria – specifically, how this clause is most commonly enunciated in merger agreements filed in the EDGAR database.
- Individual Paragraph Analysis
Driven by machine learning, the tool examines a particular paragraph against similar paragraphs within other merger agreements. Users can discover how their text compares to linguistically similar paragraphs filed in the EDGAR database.
- Integrated Practical Guidance
With Bloomberg Law’s vast digital library of M&A-specific guidance integrated into Draft Analyzer, the user never has to exit the system to access sample agreements, document descriptions, drafting guides, checklists, or topical overviews.