LegalOn Technologies, has launched LegalOn Assistant, which can answer contract questions, draft clauses, summarize contract terms, and more. According to US CEO Daniel Lewis, “LegalOn Assistant is an extension of your legal team. It saves you time, handles mundane tasks, and is easy to use in day-to-day work.”
LegalOn includes a suite tools for streamlining contract review and drafting. Functionalities include redlining, practice notes, contract templates, and easy customization for companies with their own playbooks and templates.
The new LegalOn Assistant will be available to all existing subscribers at no additional cost.
LegalOn Assistant is specially trained and tested for commercial contracting work. “Dozens of engineers and lawyers worked for months to take the power of GPT-4 and upgrade it with legal training and testing,” said Gabor Melli, VP of Artificial Intelligence at LegalOn. “We add to that
advanced security and privacy protections, including SOC II Type 2 compliance, so that companies can trust Assistant with their sensitive documents and questions.”
LegalOn Assistant is seamlessly integrated with your contracts and can speed up three essential tasks:
- Answer contract questions in seconds:
Save time searching through contracts and easily cut through legal jargon. You can ask questions of your contract – including its amendments and exhibits – and get answers on legal and business terms instantly.
- Draft quickly without jumping between applications:
Draft new clauses and revisions that fit the rest of your contract and match existing defined terms. Assistant can offer suggestions based on your position and business preferences to improve your rights and obligations.
- 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.
Lewis provided me with a demo. The Assistant is fast and offers almost instantaneous responses. The LegalOn Assistant was able to draft a memo summarizing contract terms in seconds. I asked Lewis how they eliminated the risk of “hallucinations.” He said that the product was built by legal experts and technologists who have validated the performance of the AI assistant.
The press release included testimonials of current users explaining practical use cases:
“LegalOn Assistant is extremely user-friendly, and is a huge timesaver,” said Kristen Jacobsen, Associate General Counsel at Golden Hippo, a customer with early access to LegalOn Assistant. “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.”
“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,” said Anthony Tommarello, Corporate Associate Attorney at Industrial Service Solutions, a customer with early access to LegalOn Assistant.
Assistant is LegalOn’s latest generative AI feature that uses the power of GPT-4 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.
Learn more about LegalOn Assistant and make an appointment to see it live here.
About LegalOn Technologies
LegalOn Technologies helps legal teams review contracts faster and more accurately with our AI contract review software. We serve over 4,500 companies and firms globally. LegalOn is backed by leading investors and has raised over $130M. Companies and firms interested in our technology can find more information and sign up for a demo at LegalOnTech.com. LegalOn’s US headquarters are in San Francisco, and its global headquarters are in Tokyo. Follow LegalOn on LinkedIn to stay up to date on the latest news and developments.
Media Contact: Corey Longhurst | info@legalontech.com
