A Benchmark for Lease Contract Review

Understand

Extracting entities and other useful information from legal contracts is an important task whose automation can help legal professionals perform contract reviews more efficiently and reduce relevant risks.

• In this paper, we tackle the problem of detecting two different types of elements that play an important role in a contract review, namely entities and red flags.
• The latter are terms or sentences that indicate that there is some danger or other potentially problematic situation for one or more of the signing parties.
• We focus on supporting the review of lease agreements, a contract type that has received little attention in the legal information extraction literature, and we define the types of entities and red flags needed for that task.