Spellbook Reviews brings AI into the contract review process, powering teams with a new level of detail for precise and nuanced contract edits
Today Spellbook, the first company to launch a generative AI co-pilot for lawyers, announced the launch of an unprecedented new legal AI technology: Spellbook Reviews. Reviews can directly mark up, redline, and add suggestions to legal documents, based on a lawyer’s instructions.
“The capabilities of Reviews has blown away the expectations of our own team,” shared Scott Stevenson, Co-Founder and CEO of Spellbook. “It suggests precise, nuanced edits for contracts – which is exactly what many lawyers we work with have been asking us to build. Spellbook Reviews takes the first pass through documents, identifying specific improvements, hidden risks, and even potential objections a counterparty may have. This empowers lawyers to invest their time in higher-level activities more than ever before.”
For lawyers, Spellbook Reviews reinvents today’s legal document workflows to be more streamlined in two critical ways. First, Reviews enables an entire legal document review to find risks and points of negotiation – redlining an entire contract in record speed. And second, Reviews can take any instruction from a lawyer, and use the specific instruction to revise an entire legal document. These two advancements enable Reviews to help with a wide variety of cases, such as:
- Negotiating an agreement for a client: Reviews marks up the contract for you, requesting changes from the counterparty based on your desired level of aggressiveness.
- Repurposing an old precedent for a new deal: Reviews can take your instructions and make appropriate revisions across the whole document.
- Ensuring an employment agreement is appropriate for a new jurisdiction: Reviews can highlight issues and suggest edits that would fix the issues.
- Running common negotiation playbooks: Save a set of instructions for Spellbook to follow, and have it instantly execute your negotiation playbook on any contract.
Spellbook Reviews, which leverages OpenAI’s GPT-4 and other large language models, is already being used in beta by a variety of customers. Early users have shared that Reviews has enabled them to “conduct the first pass review on contracts over 5x faster,” “discovered risks that would take hours to uncover manually,” and “have an assistant available 24/7.” Reviews works directly within the legal workflow via Microsoft Word and Spellbook is the only GPT-4 powered tool that has been tuned for contracting and integrated within Word.
“We believe Spellbook Reviews will provide enormous power to legal teams of all sizes – from large, to mid-sized, to small firms, and even solo lawyers,” shared Daniel Di Maria, Co-Founder and COO of Spellbook. “At Spellbook, we've been able to bring our legal and technical backgrounds together in a way that has allowed us to develop products and features that are breaking molds and barriers across both industries. And we’re thrilled to see our beta users getting so much value already from Reviews, ultimately enabling them to focus on adding strategic value and providing better work products for clients.”
Reviews further builds out Spellbook’s AI suite, addressing another pain in the contracting process, executing on the team’s mission, and leveraging AI to help lawyers get legal work done. Over the past year, Spellbook has grown to serve over 1,000 legal teams across the world. You can read more about Spellbook Reviews and sign up for access here.
About Spellbook
Spellbook is a legal software company which launched the first generative AI contract drafting tool in September 2022. The technology, powered by large language models like OpenAI’s GPT-4, is optimized using legal datasets for superior contracting performance. More than 600 customers across the legal industry use Spellbook to support their lawyers with the resources to make more accurate and efficient legal decisions when drafting contracts and supporting documents.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230822319053/en/
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