Luminance

  • Cambridge

Overview

Luminance’s technology can read and form an understanding of legal documentation in any language and jurisdiction, immediately surfacing the most relevant information and vastly reducing the amount of time spent on document review.

What is Luminance Diligence?

 Luminance Diligence is a web based document review solution for simplifying and automating due diligence processes.

 What type of technology?

 Cloud solution utilising supervised and unsupervised machine learning

Vendor

Luminance Technologies Ltd

Country of origin

Cambridge, UK

Similar tech products

Kira

ContractProbe

Non-tech alternatives

Paralegal and junior lawyer manual reviews

Which practitioners would find this technology useful?

Law firms conducting larger due diligence and contract review processes, particularly those involving large number of similar types of documents (eg leases) or covering multiple jurisdictions (eg international M&A).

How does it work?

Luminance Diligence opens to an interactive virtual dashboard that provides unique visualisations of the data uploaded to the platform and simple “at a click” access to reporting and analysis of that data.

The uploading of documents is as simple as clicking and dragging word and pdf documents into the Luminance platform, including en-masse uploads.  Analysis of the data by Luminance is swift and the ability to access the system’s reporting commences almost instantaneously.

Luminance has over 1,000 “out of the box” widgets that provide a range of different visualisations and summaries of data starting from the number of documents uploaded; to jurisdictional and language summaries and visualisations; to various contract and clause types; to certain types of anomalies.  One of the unique features of Luminance is being to “visualise” the data through three dimensional graphs and maps which represent the various filters and summaries of data in an easily recognisable visual form.

The dashboard can be filtered to narrow down search results and focus on a wide range of specific types of documentation and data points: for example, a filter could be applied to analyse and show only employment agreements within a particular country or governing jurisdiction.

The system uses OCR scan-to-text technology upon upload so all documents are always are text searchable. The system is able analyse large volumes of data, including data rooms containing documents in the tens of millions.

When comparing documents and clauses Luminance is able to runs comparisons against all documents or clauses within the data set of the same type, and will rate clauses based on how much they deviate from the norm or model clauses.  To do this, the Luminance Engine, called the Legal Inference Transformation Engine (LITE), uses pattern recognition technology to determine when language patterns deviate from standard patterns.  This algorithm is unique in that it is capable of working across documents in various languages whilst still identifying language patterns.

The unsupervised learning allows Luminance to find anomalies within the data set that might not have been searched for or identified, for example clauses which contain non-standard wording; clauses that are missing or additional clauses that are not found in comparable documents.  Luminance’s artificial intelligence then learns and refines as the users review the data and input their own analyses.  LITE is also easily teachable and does not require coding expertise to be adapted for more specific and contextual analyses than its “out of the box” functionality.

Benefits

  • Automatically groups and categorises document and clause types. This allows for very fast and efficient,  for example, at the click of a button, being able to search for and review all assignment provisions in all documents on a “side by side” basis.
  • Luminance is language agnostic: it uses pattern matching recognition so doesn’t need to know the language just the algorithms behind it.
  • Project dashboards allows an overview of projects including task allocations and tracks work spent reviewing documents by team members, in much the same way as traditional data room systems work.
  • Luminance can be set to sync automatically with traditional virtual data room systems like Ansarada or DropBox so that, as documents are uploaded to the virtual data room, they are automatically uploaded to Luminance.
  • Contracts can be grouped and filtered according to an almost infinite set of data points, including governing jurisdictions, contract type, locations, date ranges etc.
  • Work in word integration/plug-in – Luminance sidebar with machine learning analysis allows for easy document remediation e.g. can insert model clauses where find missing or anomalous clauses using the automatic document clause compliance functionality.

Risks

Cyberisk, as with any cloud offering, is present as regards confidential and sensitive data moving beyond a firm’s internal systems.  Australian client Luminance data is held in Sydney in an encrypted format via AWS servers.

There is an alternative option to the cloud-hosted solution, whereby a preconfigured appliance can be installed in the client’s network.  Luminance Technologies Ltd is ISO 27001 certified.

Downsides

Firms already using a virtual data room system may find over-lap between the functionality of the systems and, where the system is not one that is able to be synced automatically to Luminance, may create duplication in the upload process.

An automated pattern recognition system is not a replacement for a legal analysis and law firms will need to determine, from a risk management perspective, the extent to which they will rely on the various automated analyses produced by Luminance versus more traditional lawyer led analyse and review.