Press Release

How LegalOn Assistant Helps Tackle Your Contract Tasks, Just Ask.

Vivan Marwaha, Product Marketing Manager
February 28, 2024

Legal teams are in a battle against time with contract review, facing the urgency to dissect complex agreements, identify essential clauses, and interpret legal terms—all while ensuring nothing crucial is missed. 

As legal professionals navigate this critical work, it is easy to become bogged down by the manual task of searching through complex contracts to locate specific terms, translate legal jargon, and uncover hidden risks. This work is more than tedious; it is a significant bottleneck that reduces productivity and delays negotiations.

What if there was a solution designed to address these challenges head-on? A way to speed up contract tasks, minimize risk, and empower legal teams to get deals to signature faster? 

Meet LegalOn Assistant. 

We're thrilled to introduce LegalOn Assistant. With the power of GPT-4, the security of SOC2 compliance, and extensive training and testing by attorneys, Assistant is generative AI upgraded for legal professionals. Check defined terms, locate critical clauses, draft revisions, and summarize a contract in seconds.

Just Ask LegalOn Assistant to:

  1. Answer contract questions in seconds: 

Save time searching through contracts and easily cut through legal jargon. You can ask any questions about your contract - including its amendments and exhibits - and get answers on legal and business terms instantly. 

An example: "Check that defined terms are used consistently"

This allows you to effortlessly locate specific clauses or translate complex jargon into plain language, saving time. You can also ask Assistant to identify key terms within your contract, such as service descriptions, SLAs, and payment clauses, providing you with a complete understanding of your agreements. 

  1. Draft quickly without jumping between applications: 

Draft new clauses and revisions that fit the rest of your contract and match existing defined terms. LegalOn Assistant can offer suggestions based on your position and business preferences to improve your rights and obligations.  

An example: "Redraft a late payment clause more favorable for the Customer."

Reclaim critical time and engage in more equitable negotiations by taking advantage of AI-powered suggestions to rebalance contract terms in your favor, such as redrafting termination rights or indemnification obligations.

  1. Summarize contract language in an instant: 

Assistant can help you quickly understand the key terms of a contract or clause with a concise, plain-language summary. Being able to instantly summarize risks and obligations speeds up your review as well as your communications with other stakeholders. 

An example: "Summarize the contract’s termination options for my CEO via email."

This allows you to efficiently understand and communicate the key aspects of your contracts, including obligations, risks, and benefits, helping you speed up your decision-making process. 

Not an Ordinary Chatbot

The legal profession has understandably been wary of new technologies, given the sensitivity of legal work. Contracts are confidential and must remain so. Lawyers, therefore, must be cautious about the security of their documents and the use of their data on technology platforms, especially concerning whether it is used in training generative AI models.

However, as technology evolves and becomes more powerful, it’s important for lawyers – particularly in-house attorneys – to leverage all the available tools. As budgets and headcount often remain stagnant, in-house teams are seeking technology that helps them do more with less. It's critical that these are skilled at legal work and built for legal teams. AI that provides inaccurate or generic answers may be more counterproductive than helpful in aiding legal work. 

That’s why we put security, compliance, and contract aptitude as our key priorities in building LegalOn Assistant. Dozens of engineers and lawyers worked for months enhancing the capabilities of generative AI with specialized legal training and testing. Moreover, we incorporate advanced security and privacy measures, including SOC II Type 2 compliance, ensuring that companies can trust Assistant with their sensitive documents and questions. This Assistant is no ordinary chatbot:

Try LegalOn Assistant

Late last year, researchers at LegalOn found that GPT-4 can pass the legal ethics exam, showcasing some additional possibilities to build AI to assist lawyers with ethical compliance and where relevant, in alignment with lawyers’ professional responsibilities. 

LegalOn Assistant takes our research and investment in AI many steps further, as we continue to lead the industry in understanding how AI can help lawyers and applying those findings to build real tools that add value. 

To that end, LegalOn invited existing customers to try Assistant in early-access. Users have been able to save time and find critical information faster. One user, Kristen Jacobsen, Associate General Counsel at Golden Hippo saved time by using Assistant to explain defined terms while reading contracts, stating:

“LegalOn Assistant is extremely user-friendly, and is a huge timesaver. I use LegalOn Assistant to tell me what defined terms mean as I am reading a contract - this saves a lot of time scrolling back and forth through the contract to look up definitions."

Similarly, Anthony Tommarello, Corporate Associate Attorney at Industrial Service Solutions, uses LegalOn Assistant to draft new clauses from scratch, saying:

“I use LegalOn Assistant to strengthen my contracts. It helps me identify risks and draft new clauses from scratch. I've found that it saves more than 50% of my time.”

Assistant is LegalOn’s latest generative AI feature that uses the latest GPT technology and Microsoft Azure’s OpenAI Service. Last year, LegalOn introduced AI Revise, the first contract redlining tool to combine detailed legal guidance content with generative AI. These features are included in every LegalOn subscription. 

LegalOn provides an affordable, comprehensive suite of the best tools for speeding up pre-signature contract review and drafting: Assistant, AI contract review and redlining, practice notes, contract templates, and easy customization for companies with their own playbooks and templates.

You don’t want to miss out. Book a meeting with a member of our team to see how LegalOn Assistant can help you answer, draft, and summarize faster, or download our Product Sheet to learn more.

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