As the global M&A frenzy continues, another international deal rolls in—and since you’ve had a holiday breather after the cross-border deal involving subsidiaries in Canada and Australia, you’re now staffed on a deal with a European-based target company. Again, with thousands of documents to review, hundreds are in German. Eager to prevent other bidders from providing alternative proposals, the client would like to work through the due diligence process quickly, with the same short timelines for both the English-language and German documents.
Now part of Litera’s Workflow product family, Kira’s 88 new German language smart fields enable lawyers at your firm’s Frankfurt office (or local counsel, as it may be) to review documents in German directly within Kira. As with the recently released built-in Australian law, Brazilian Portuguese, and Canadian French smart fields, they can also apply their own worksheets (and worksheet templates—which we previously covered) to the relevant documents, all within the same project. This allows for easier tracking of review progress, and facilitates collaboration on work being done across different offices.
What Are Smart Fields?
Utilizing Kira’s patented machine learning technology, you can quickly extract concepts, data points, and answers for any number of use cases with high efficiency and accuracy, which is not possible with traditional rules-based systems. At the core of Kira’s intelligence are our smart fields that utilize AI model relationships to automatically find where legal concepts appear in documents. These smart fields are trained by experienced lawyers and subject matter experts, and cover a variety of use cases, such as M&A, finance, bankruptcy, real estate, and more.
Currently Kira offers 1,300+ built-in ready-to-use smart fields, and has now extended its Built-In Intelligence to include languages other than English. While Quick Study is still available as an option to build custom-trained smart fields in any Latin-script language, our latest release of new smart fields can automatically identify provisions in German.
What’s In This Release?
Kira now offers 88 new German smart fields as part of our Built-In Intelligence. These smart fields have been trained by CMS Hasche Sigle, a leading commercial law firm in Germany and longtime user of Kira. The German smart fields will be arranged in the following field groups:
Should you have any questions regarding our new language smart fields, please reach out to your Customer Success Manager, or email our 24/7 support team at at support@kirasystems.com, where they will be more than willing to help resolve any issues or provide guidance.