Introducing Instant Redline Summaries with LegalOn Assistant

In many contract negotiations, what starts as a clean draft can quickly turn into a complex exchange of redlines. Various stakeholders across your company and your counterparty take turns marking up a contract, leaving behind a tangled web of revisions.

Parsing through these redlines  can be a huge challenge for legal professionals. Not only is it a time-consuming process, but it slows negotiations, impedes communication with counterparties, and hinders collaboration with business partners.

That's why we're thrilled to introduce our latest feature: Instant Redline Summaries in LegalOn Assistant.

What it does: LegalOn Assistant now automatically summarizes the redlines in your contracts, creating a clear, actionable issues list. This feature works for both your own redlines and those proposed by counterparties.

Key benefits:

1. Pinpoint changes instantly: No more scrolling through lengthy documents to find key redlines and modifications.
2. Enhance collaboration: Share concise summaries with your team for quicker internal alignment.
3. Accelerate negotiations: Easily communicate proposed changes to counterparties, moving discussions forward efficiently.

Why Redline Summaries

Contract negotiations are more than an exchange of redlines. Negotiations happen over email, phone calls, and in person. They involve getting input from each side’s legal and business teams. To facilitate these conversations, clear summaries of open issues help: (1) enhance collaboration with internal stakeholders and (2) focus negotiations with counterparties.

Facilitating Stakeholder Collaboration

Making sense of lengthy contracts and redlines can be a significant endeavor for business teams and legal teams alike. Simply sending a marked-up contract to an internal stakeholder can lead to delay and confusion. Instead, legal and business teams often use redline summaries to pinpoint the outstanding issues and quicken collaboration processes.

Accelerating Counterparty Negotiations

Likewise, counterparties appreciate the transparency and efficiency that comes with issue lists. Rather than sending redlines on top of redlines, many negotiators will email an issues list to accompany their redlines. On a negotiation call, a summary of open issues helps you and your counterparty move through each issue rather than scrolling through a long contract and its numerous exhibits.

Automate Redline Summaries with LegalOn Assistant

Creating issue lists, however, can be tedious and time-consuming. Rather than manually parsing through a long web of redlines, you can enlist the help of LegalOn Assistant. With a single click, you can generate a summary of your changes and your counterparty’s changes, which you can review, edit, and share as needed.

This new feature is now available to all LegalOn Assistant users. Book a meeting with us to experience faster, more efficient contract reviews.