LegalOn Tech. Product
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A LegalOn Tech. Product is a contract tech product for LegalOn Technologies.
- Context:
- It can (typically) be governed by a LegalOn Terms of Service.
- It can (typically) be based on the LegalOn Tech. Platform, integrating AI-driven solutions and cloud-based architecture.
- It can (typically) have LegalOn Tech. Product Features such as AI-Powered Redlines, Playbook Integration, and Risk Analysis.
- It can (often) include collaboration tools for legal teams to review, comment, and track changes in real-time.
- It can (often) offer custom alert systems for changes in key terms and compliance risks.
- It can (often) focus on enhancing the efficiency of legal teams by reducing contract review times and improving consistency.
- It can (often) be deployed by legal departments in large corporations, tech companies, and startups looking to streamline their legal operations.
- It can (often) include features like AI-Generated Clause Recommendations, which suggest revisions based on best practices and historical agreements.
- ...
- It can range from being a Web-based LegalOn Tech. Product to being an MS Word-based LegalOn Tech. Product.
- ...
- It can provide support for regulatory compliance standards, such as GDPR and CCPA, ensuring contracts meet legal and industry requirements.
- ...
- Example(s):
- LegalOn "Review" — A contract review product that automates the identification of potential risks and compliance issues in legal agreements.
- LegalOn "AI Revise" — An AI-powered tool designed to instantly redline and revise contracts based on legal expertise and pre-set rules.
- LegalOn "Knowledge Repository" — A searchable repository for clause and precedent search, document comparison, and benchmarking.
- LegalOn "LegalOn Templates" — A library of market-standard contract templates for rapid contract drafting.
- LegalOn "Playbooks" — Custom playbooks that trigger alerts based on the presence or absence of key terms and clauses.
- LegalOn "Premium Support" — An offering that includes personalized support, training, and custom implementation for large teams.
- LegalOn "Assistant" — A generative AI tool that answers contract-related questions, drafts clauses, and provides summaries of contract terms.
- LegalOn Compliance Manager — A specialized product module that ensures contracts meet regulatory standards, including GDPR and CCPA.
- ...
- Counter-Example(s):
- SpotDraft Product, which focuses more on end-to-end contract lifecycle management rather than specialized compliance and clause management.
- Ivo Product, which emphasizes automated contract redlining and integration with document platforms.
- Luminance Product, a legal tech product known for its AI-driven document clustering and risk analysis features.
- Harvey Product, which uses GPT-4 for AI-assisted legal drafting and risk analysis.
- Robin Product, a contract management platform with a focus on collaboration and negotiation tracking.
- See: Contract Review Product, LegalOn Playbooks Feature, Contract Lifecycle Management (CLM), Automated Document Review.
References
2024
- Perplexity
- LegalOn Technologies, Inc. is a prominent player in the legal technology sector, specializing in AI-powered contract review solutions designed to streamline and enhance the contract management process for legal professionals. Founded in 2017 by two corporate lawyers, the company has rapidly expanded its offerings and customer base, now serving over 5,000 clients globally.
- Core Product Offerings: LegalOn's primary product is an AI contract review platform that enables legal teams to:
- Accelerate Contract Review: Reduce manual review time by up to 85% through advanced AI technology that identifies key terms and risks within contracts.
- AI Revise Tool: This feature allows users to make sophisticated revisions to contracts quickly, integrating legal expertise with AI capabilities.
- LegalOn Assistant: A generative AI tool that answers contract-related questions, drafts clauses, and summarizes terms, enhancing efficiency during contract negotiations.
- Key Features of LegalOn Products
| Feature | Description | |--------------------------|--------------------------------------------------------------------------------------------------| | AI Contract Review | Analyzes contracts for risks and compliance issues, focusing on critical terms like confidentiality and liability. | | AI Revise | Provides instant editing capabilities based on detailed legal guidance combined with AI technology. | | Collaboration Tools | Enables legal teams to work together seamlessly within the platform, tracking changes and comments in real-time. | | Customizable Playbooks| Offers pre-built playbooks tailored for various contract types to ensure consistent negotiation practices. | | Security Standards | Adheres to rigorous security protocols, including SOC2 Type II certification, ensuring data protection for sensitive legal documents. |
- Impact on Legal Professionals: LegalOn's innovative approach allows legal teams to focus more on strategic decision-making rather than getting bogged down by time-consuming manual processes. Users have reported significant time savings—contracts that previously took hours can now be reviewed in mins. This efficiency not only enhances productivity but also improves the quality of contract negotiations by allowing teams to identify and address potential risks more effectively.
- Citations:
[1] http://www.gabormelli.com/RKB/LegalOn_Technologies,_Inc. [2] https://www.legalontech.com/solutions/technology-contracts [3] 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 [4] https://www.legalontech.com/press-releases/legalon-assistant-generative-ai-for-contracts [5] https://www.legaldive.com/news/legalon-technologies-ai-review-generative-ai-tool-contract-editing/709094/ [6] https://www.youtube.com/watch?v=kraAbhw9sFU [7] https://www.legalontech.com/product [8] https://www.legalontech.com
2023
- (LinkedIn, 2023) ⇒ https://linkedin.com/posts/legalon-technologies_meet-ai-revise-your-contract-redlining-activity-7094694260301594625-_e4U/
- QUOTE: Meet AI Revise, your contract redlining solution - now available to all users!
We know the contracts keep coming, and your business partners need them turned around fast. Manual redlining is taking time you don't have.
AI Revise is a single-click solution to redline and revise contracts instantly. AI Revise combines the power of AI with legal expertise from our seasoned attorneys so you can:
- Cut your contract review time by half and turn contracts around faster
- Find and eliminate risk with a single click
- Free up time to focus on other important legal work
- QUOTE: Meet AI Revise, your contract redlining solution - now available to all users!