Development of an Enterprise-Grade Contract Understanding System

Abstract

Contracts are arguably the most important type of business documents. Despite their significance in business, legal contract review largely remains an arduous, expensive and manual process. In this paper, we describe TECUS: a commercial system designed and deployed for contract understanding and used by a wide range of enterprise users for the past few years. We reflect on the challenges and design decisions when building TECUS. We also summarize the data science life cycle of TECUS and share lessons learned.