Relation Extraction is a particular task in NLP and Legal NLP. Relation Extraction is usually performed together with Named Entity Recognition.
Once entities have been extracted, a model can relate relevant entities together. For example in Legal NLP, within a contract, a business is usually referred to by its formal name e.g. Google and a reference name e.g. The Company. A relation extraction model can automatically connect these two words as mentions of the same entity so it understands who is being referred to by The Company.