The contract lifecycle management company Agiloft today said it has acquired Screens, developer of a generative AI contract review and redlining product that uses expert-created and auto-generated playbooks to “screen” and redline contracts.

“This strategic acquisition will enhance Agiloft’s data-first Agreement Platform and contract management capabilities, by standardizing the contract review process, promoting consistency, and unlocking the value of contract data with the collective expertise of a global community of legal professionals,” Agiloft said in announcing the acquisition.

Screens was launched in January 2024 by TermScout, an AI contract review company, as a first-of-its-kind AI marketplace where lawyers and other contracting experts could build and sell their own contract review AIs, developed based on their unique expertise.

The idea, TermScout CEO and Screens founder Otto Hanson told me at the time, was to provide lawyers with an opportunity turn their expertise from a service into a product, while enabling those reviewing contracts to get a contract review AI tailored to their specific use case.

For the legal teams who are its customers, Agiloft said the acquisition of Screens will bring three major benefits:

  • Standards-based reviews and redlining. Screens enables customers to use an easily-configurable playbook — which it calls a Screen — to quickly assess whether a contract meets pre-defined internal standards and receive GenAI-driven suggestions when they do not.
  • Community. While Screens users can create their own playbooks, the product also provides access to a community of experts who have published an array of custom-crafted playbooks. These custom playbooks are freely available to Screens users, and can be used to evaluate contracts based on the knowledge of experienced experts.
  • Market data. As playbooks are used by Screens’ customers, the system tracks pass and failure rates. This data gives users context. If a particular clause regularly passes, users can assume that it is an industry standard worth insisting on, and if it regularly fails, users can assume what should be avoided or eliminated.

“With Screens’ contract review technology available both integrated into our platform and as a standalone solution, businesses everywhere will have a data-driven, community-supported, and standards-based way to accelerate their business,” Agiloft CEO Eric Laughlin said in a statement announcing the acquisition. “It’s a pivotal moment for Agiloft, and we’re ready to engage the legal community to set a new standard in how companies manage their contracts.”

“By joining Agiloft, we’re ready to accelerate the impact of our AI-driven contract review technology,” said Hanson. “Together, we’ll provide organizations with a seamless, end-to-end solution that streamlines contract management from start to finish. We’re excited about the future and the opportunities to create even more value for customers.”

Hanson’s company TermScout is not part of the acquisition.

Photo of Bob Ambrogi Bob Ambrogi

Bob is a lawyer, veteran legal journalist, and award-winning blogger and podcaster. In 2011, he was named to the inaugural Fastcase 50, honoring “the law’s smartest, most courageous innovators, techies, visionaries and leaders.” Earlier in his career, he was editor-in-chief of several legal publications, including The National Law Journal, and editorial director of ALM’s Litigation Services Division.