When Jason (our CEO) began his career as a corporate lawyer in 2007, one of his first assignments was performing a definitions check on a loan agreement, which was to find "Defined Terms" that were never used and to find Capitalized terms that were never defined. He understood the necessity of the task, but was surprised that no standard procedure existed to perform the task.
One evening, around 9PM, a request came in to perform the definitions check, and to have the check completed and reflected in the upcoming draft in the morning. Due to other pressing assignments, Jason started the check around 2AM, and finished it around 4AM. He had submitted the work, but it was too late; the revised document that came out in the morning did not reflect Jason's findings. After being yelled at, he wondered if someday this process could be automated, similar to the way redlining or spell checking had become automated.
When Jason decided to leave law practice to start Celant Innovations, he revisited pain points of modern day corporate practice. After learning that the latest technology had not flowed through the existing solutions for defined terms checks, the idea of DefCheck.com was born. After continuous refinement over 18 months, the algorithm produced reliable results on actual commercial agreements and the patent application was filed.
DefCheck.com is a simple and reliable tool to automate the defined-terms related error detection process. With the document fully highlighted in Green (everything OK), Red (defined term not used), and Pink (Capitalized term not defined), it only takes about 15 minutes by a practitioner to review the entire document and confirm the errors.
Celant Innovations designs, develops and operates cloud-based and on-premises solutions relating to legal document drafting and analysis. We strive to improve efficiencies in traditional processes, focusing our expertise in legal, accounting and financial industries. Our goal is to create easy-to-use products that resonate with our customers.