LegalOn Launches Generative AI for Contracts, LegalOn Assistant

‍San Francisco, USA; Wednesday, February 28 2024: LegalOn Technologies, the global leader in AI contract review, today launched LegalOn Assistant, which can answer contract questions, draft clauses, summarize contract terms, and more. LegalOn Assistant is fast, keeps data secure and private, and frees lawyers to focus on the work and judgment that sets them apart. 

"LegalOn Assistant is an extension of your legal team," said Daniel Lewis, US CEO of LegalOn. "It saves you time, handles mundane tasks, and is easy to use in day-to-day work.”

"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.

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.” 

In late 2023, LegalOn released novel research finding that GPT-4 can pass the legal ethics exam, and with Assistant we continue to lead the industry in understanding and advancing how AI can help lawyers.

LegalOn Assistant is seamlessly integrated with your contracts and can speed up three essential tasks:

1. 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.
   

2. 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.
   

3. 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. 

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. 

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. 

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