LegalOn Technologies, the contract review company, announced the release of LegalOn Assistant, a generative AI chat interface. The AI assistant can answer questions about contracts, draft clauses, and summarize contract terms, among other tasks.
The assistant is accessible directly within the in-browser contract editing interface of LegalOn and is immediately available to all customers without any additional costs. LegalOn states that this AI assistant is specifically designed and tested for commercial contracting.
Gabor Melli, Vice President of Artificial Intelligence at LegalOn, said, “Dozens of engineers and lawyers worked for months to harness the power of GPT-4 and enhance it with legal training and testing”. Additionally, they have integrated advanced security and privacy protections, including SOC II Type 2 compliance, ensuring companies can rely on the assistant with their confidential documents and questions.
The primary role of LegalOn Assistant is to help lawyers with three types of tasks related to specific contracts:
- Answer contract questions. It can answer user queries about a contract, including its amendments and exhibits, in seconds.
- Draft clauses and revisions. The assistant can draft clauses and revisions that conform to the rest of the contract and match defined terms. It can suggest language based on negotiating position and business preferences and can recommend where within the contract to insert a clause.
- Summarize contract language. It can quickly help users understand the key terms of a contract or a clause with a concise, plain-language summary.
During a recent demonstration, Melli and U.S. CEO Daniel Lewis guided an example scenario where a company receives a draft master services agreement and wants assurance that it prohibits the vendor from using its logo. LegalOn Assistant successfully managed to draft a prohibition clause and suggested where to place it in the contract.
They insisted that these are simply examples of what the assistant is capable of and reflects its flexibility to perform a variety of tasks. “LegalOn Assistant is an extension of your legal team,” Lewis remarked. It lightens the load of routine tasks, saves time, and is user-friendly for everyday work.
Contact review company LegalOn Technologies unveiled the LegalOn Assistant utilizing the power of GPT-4 technology and Microsoft Azure’s OpenAI Service. Last year, the company introduced AI Revise, the first contract redlining tool, combining detailed legal guidance content with generative AI. These features are included in every LegalOn subscription.
As LegalOn continues to introduce innovative tools in the legal tech space, legal professionals globally will observe how AI can potentially save time and increase efficiency in their day-to-day operations. By targeting the routinely time-consuming aspects of contract law, tools like the LegalOn Assistant might become a new norm for major law firms and legal departments across the globe.
The full coverage of this release can be found here.