Setting up due diligence
Adding deal details
Deal details tell the AI what deal it is working on.
Deal details tell the AI what deal it is working on. Everything you enter here is applied to every AI action on the matter, including AI reviews, gap analysis and AI drafted DDQs, and never leaves the matter.
Open Diligence in the left-hand navigation menu and click Deal details. The page has three sections: deal facts, deal guidance and context documents.
Deal facts
Deal facts are the basic details of the transaction.
- Target name: the company being bought or invested in
- Client name: the client you are acting for. Legatics stores a client number on the matter but not the client name, so it is captured here for the AI
- Due diligence deal type: Share purchase, Asset purchase, Real estate acquisition, Investment or Other
- Jurisdictions: the countries relevant to the target. Add as many as you need
- Document basis: Documents or Index, shown for reference. This is set when due diligence is enabled and cannot be changed once documents or an index exist
Click Save deal facts when you are done.
Note: If you change deal facts after AI results have been produced, those results are marked Stale in the How this was produced view, so you can see they were based on older facts.
Deal guidance
Deal guidance is free text, that gives the AI the commercial context a lawyer would bring to the deal. It can be deal specific or client specific. For example:
- The buyer's background and why it is buying
- The structure, value and funding of the transaction
- What the client does and does not care about, such as "the client is not concerned with contracts below £100,000"
- Areas to focus on or ignore
Deal guidance can be up to 1,000 characters.
Click Save guidance to keep your changes.
Context documents
Context documents are the manual for the deal. The AI reads them to extract the facts that ground every check and gap it runs. Good examples are an information memorandum, a group structure chart or a heads of terms.
- Click Upload context document
- Choose the file
- Wait for the Extraction column to show Text extracted
From the Actions column you can download, view or delete a context document.