LP360 (Advanced) for both ArcGIS and Windows (e.g. “Standalone”) includes a Point Cloud Task (PCT) for vectorizing clusters of points of a particular class. A squaring option is included for constraining the vectors to straight lines with 90° vertex angles (for example, when tracing an object with known straight edges and 90° such as a building roof). The link below provides a detailed overview of using this tool.
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