CloudSign Review Begins to Link Sample Contract Form Function to CloudSign

Bengo4.com Inc. (Minato-ku, Tokyo; Taichiro Motoe, Representative Director, President and CEO, Lawyer; hereinafter, the “Company”) is pleased to announce that its AI-powered contract review support service CloudSign Review has started linking its sample contract form function to CloudSign.

This function makes it possible to use data about electronic contracts executed through CloudSign in contract reviews, making it possible to conduct high-accuracy reviews using corporate legal affairs assets more effectively.

■ What is the linkage of the sample contract form function with CloudSign?

It is a function that makes it possible to automatically use data about electronic contracts executed through CloudSign as sample contract forms in CloudSign Review. Sample contract forms were previously uploaded individually to CloudSign. Now, forms in the CloudSign database can be directly referenced. This ensures that the accuracy of reviews is higher and increases the efficiency of business.

In contracting operations, it dramatically facilitates the referencing of information about past activities, widening the scope of the utilization of data, including comparisons with past contracts and other knowledge.

■ What is the sample contract form function?

The sample contract form function registers and utilizes corporate legal affairs information assets such as information about regulations unique to the industry or company, the negotiation history of past events, and compiled contract provisions. Registered files can be searched by provision and can be used in document comparisons. This facilitates the company-wide accumulation of information assets and new employee training because they can be shared by departments and the entire organization.

■ Main functions and usages

1. Full-text search in executed contract forms

You can search the full text of executed contract forms on CloudSign Review. If you want to reference expressions or provisions used in past contracts, you can quickly search for the text you need.

2. Comparison of contracts with the same trading partner

When signing a new contract with whom you are continuously transacting business, you can compare the new contract form with previous contracts. You can check all of changes and added provisions to facilitate negotiations.

3. Comparison with similar cases and identification of points

You can reference contract forms from similar past events even if the other party is a different trading partner. You can identify all risk items and summarize points efficiently.

■ What is the AI-powered contract review service CloudSign Review?: https://www.cloudsign.jp/review

It is an AI-powered automatic contract review support service offered by CloudSign, the contract management platform with the largest market share in Japan. The Company began providing the service through a capital and business alliance with Lisse Co., Ltd. in July 2023. If you upload a contract form and tell the platform which party you are in the contract, the AI will point out disadvantageous or missing provisions instantly. Since commentary prepared by specialist lawyers and sample text that is more favorable for the client is also displayed, the service significantly reduces the person-hours required to review contracts even in the absence of high-level specialist knowledge.

The service has the following three features.

(1) High AI accuracy supervised by lawyers

High accuracy review support function supervised by lawyers from leading law firms

(2) Reasonable price structure

Reasonable pricing which facilitates introduction of the service at all enterprises whatever their size A special offer for users who introduce the service in combination with the electronic contracting service CloudSign is also available.

(3) Extensive support system

Provision of an extensive support system based on the experience of supporting the introduction of CloudSign, which has the largest share of its market and the largest customer base in Japan The Company aims to integrate this service with its other contracting and contract management services, as a third pillar of the Company’s contract lifecycle management (CLM) business model.

■ About CloudSign: https://www.cloudsign.jp/

CloudSign is a contract management platform that enables digitization of everything from contract execution to management and AI review. The electronic signatures and timestamps are compliant with the Act on Electronic Signatures and Certification Business, ensuring smooth and secure contract execution.

CloudSign also began offering Japan’s first ever My Number Card (individual number card) signature capability as part of its general-purpose contracting service in 2023. The platform also shortens the time required for the entire contracting process through the active adoption of AI technology including an AI contract management capability and an AI-powered contract review service, CloudSign Review.

CloudSign has become the No. 1 service in the electronic contract market*1, and is widely adopted by companies and local governments.

*1: Market share in “New Markets of Software Business 2024” (2023 result of e-contract tools) by Fuji Chimera Research Institute, Inc.