Summary

• The paper demonstrates the use of a specially fine-tuned BERT model, termed as LegalPro-BERT, in classifying and analyzing legal provisions within contracts.

• Key Insights:

  • Showcases enhanced performance in legal provision classification compared to standard models, serving as a potent tool for automating and improving legal document review processes.
  • Addresses the challenges posed by specialized legal language and limited labeled data in the legal domain.

• Challenges & Future Scope:

  • Broadening the application range to include various legal document types beyond contracts.

  • Enhancing the model’s understanding and interpretation capabilities to cover more complex legal terminologies and concepts.

    Importance

• This development in legal AI could drastically reduce the time and cost associated with legal procedures, simplifying the tasks of legal professionals and potentially altering the landscape of legal practice.