Automated Contract Negotiation Race Heats Up with Seal Entry

Contract analytics firm Seal Software on Wednesday launched its first product entry in the race to create software that automates contract negotiation between parties.

Seal Now works in Microsoft Word to highlight which contract provisions are out-of-line with a company’s standard terms. The real-time negotiations product also suggests new clauses and terms that are approved by the company.

Contract analytics platforms have primarily been used to categorize and track provisions in signed contracts. But a growing number of technology firms are trying to automate the actual negotiation process — often by funneling their insights straight into Microsoft Word, where most ...