LegalOn's "AI Review" Application
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A LegalOn's "AI Review" Application is an AI-powered contract review application within LegalOn's contract review platform that facilitates the assessment and annotation of legal documents.
- Context:
- It can (typically) be a Regional-Specific LegalOn "Review": LegalOn "Review" Japan, LegalOn "Review" US, ...
- It can (typically) be driven by a LegalOn Contract Review Platform.
- It can have a LegalOn Assistant (LOA) Chatbot.
- ...
- Example(s):
- Counter-Example(s):
- See: LegalOn Product, e-Discovery Software, Legal Research Tool, Contract Management System.
References
2024
- Perplexity
- LegalOn's "AI Review" is an AI-powered contract review tool that helps legal professionals identify risks and suggest revisions in contracts quickly and accurately.
- Some key features of LegalOn's AI Review:
- It leverages the latest GPT technology from OpenAI combined with LegalOn's proprietary legal content and guidance created by experienced attorneys.[1][2]
- It can instantly review various types of contracts like Master Service Agreements, Purchase Agreements, etc. and identify nuanced contract risks specific to each contract type and negotiating position.[2]
- The AI is trained on thousands of tests and refined by LegalOn's attorneys to ensure it provides trustworthy and precise reviews.[2]
- It provides in-depth practical guidance and sample language written by attorneys to help fix identified risks.[1][2]
- The AI adapts to a company's risk preferences and pre-existing playbooks for consistent and tailored contract reviews.[3][4]
- It allows users to collaborate on contract revisions within an in-browser editor and search prior contracts/templates for relevant clauses.[2][4]
- LegalOn positions AI Review as a tool to automate tedious parts of legal work, spot risks quickly, and enhance the contract review process while providing attorney-vetted guidance.[1][2][4]
- Citations:
- https://www.legaldive.com/news/legalon-technologies-ai-review-generative-ai-tool-contract-editing/709094/
- https://www.businesswire.com/news/home/20230424005246/en/LegalOn-Technologies-the-Global-Leader-in-AI-Contract-Review-Unveils-AI-Revise-Tool-and-Subscription-Plans-for-US-Customers
- https://www.legalontech.com
- https://www.legalontech.com/product
2023a
- (LegalON Tech, 2023) ⇒ https://www.legalontech.com/product/review
- QUOTE: Today, LegalOn is making its platform commercially available to all customers in the U.S., and as it does, it is releasing a new feature, AI Revise, which it says is the “first AI contract editing tool enhanced by expert legal knowledge.”
“Our AI Review assists legal teams by spotting risks in third-party contracts and redlines and suggesting solutions to make contracts stronger before signature,” said Daniel Lewis, LegalOn’s U.S. CEO. “Now, we’ve taken a leap forward – AI Revise enables users to turn our suggestions into revisions.”
- QUOTE: Today, LegalOn is making its platform commercially available to all customers in the U.S., and as it does, it is releasing a new feature, AI Revise, which it says is the “first AI contract editing tool enhanced by expert legal knowledge.”
2023b
- Bing chat
- LegalOn Technologies provides an AI-powered contract review application called LegalOn Review¹. This application is designed to help legal teams identify and fix nuanced contract risks before signing. It offers an instant AI review that spots nuanced contract risks and provides guidance and language to fix them, cutting review time by 40%¹. LegalOn Review is tailored to your position as buyer or seller and contract type, including NDAs, MSAs, Purchase Agreements, and more¹. LegalOn Review also provides easy-to-use resources such as detailed practical guidance and sample clauses written by experienced attorneys to help you review and revise¹. You can easily create and draw from your library of past contracts, clauses, and templates, manage version control, and see side-by-side changes as you negotiate¹. LegalOn Review allows you to adjust your review settings to your business’s priorities and risk preferences, align your team around a consistent set of review standards, and track your team's review performance around a shared set of review metrics¹. LegalOn Review has been reported to improve the quality and consistency of contract review by 9 out of 10 users¹.
- Source: Conversation with Bing, 11/8/2023
- Review | LegalOn Technologies. https://www.legalontech.com/product/review.
- About | LegalOn Technologies. https://www.legalontech.com/about.
- LegalOn Technologies | Stronger Contracts Faster. https://www.legalontech.com/.
- Revise | LegalOn Technologies. https://www.legalontech.com/product/revise.