Spellbook

Contract Drafting and Review for legal professionals.

text business

Tool Information

Primary Task	Legal documents drafting
Category	operations-and-management
Country	Canada

Spellbook is the first generative AI copilot for legal professionals, using GPT and other LLMs to review and suggest language for your contracts and legal documents, right in Word. Helping you analyze contracts and documents holistically. Spellbook is trained on billions of lines of legal text, including case databases, form libraries, and statutes. Ensuring accurate and relevant language in a nuanced, legal context. Key Features Reviews: Instantly review contracts and find potential risks, errors, and negotiation points. Redlining: Suggests precise changes and comments based on your prompts. Insights: Get actionable information and suggestions automatically populated every time you open a document. Draft: Use Spellbooks legal-specific AI to draft relevant contracts, clauses, and client communication. AI Assistant: Task-based automations, helping you work through documents 10x faster. Clause Library: Automatically build you a searchable library of your most used legal language, which can be used while working in a document Chat: Use your own prompts to ask for specific tasks or outcomes. Spellbook takes care of the drudgery so you can focus on strategic work. Free trials available. Built for Law: Trained on billions of lines of legal text including statues, case databases, libraries, and the entire internet. Word Enabled: Integrated directly into Word, Spellbook runs alongside your contracts. Trusted by Lawyers: Powering over 2,000 legal teams

Spellbook is a legal technology company that focuses on creating AI solutions for lawyers. It specializes in generative AI to enhance legal processes, especially in contract drafting, review, and redlining. Its technology integrates with Microsoft Word, enabling lawyers to draft and review contracts significantly faster.

The company offers a range of legal AI tools tailored for transactional lawyers. Its flagship product leverages large language models, including OpenAI's GPT-4, to deliver precise legal language. A notable innovation is Spellbook Associate, an AI agent that can handle complex legal tasks across various documents and applications. This tool allows users to manage multiple tasks with a single prompt, improving efficiency in document production and review.

Spellbook serves over 2,700 law firms and in-house legal teams across more than 50 countries. The company prioritizes data privacy and security, adhering to major regulations and ensuring client data is protected. Scott Stevenson, the CEO and co-founder, leads the company in its mission to advance legal AI technology.

Pros
Drafts contracts 3x faster Integrated with Microsoft Word Detects aggressive terms Suggests missing clauses Provides negotiation suggestions Drafts new clauses instantly Can reference world facts Tuned for contracting In-app language suggestion Aggressive term alert Auto diligence feature Entire section drafting Trained on vast legalese Expected early access Customized by Rally Legal Immediate unusual term detection Understands contracts and world

Cons
Only works with Microsoft Word Limited accessibility (early access) Reliability on GPT-3 accuracy No support for other languages Lack of established reputation Potential for data security issues Limited customer support channels Lack of integration with other legal software Reliance on user feedback for fine-tuning

Frequently Asked Questions

1. What is Spellbook?

Spellbook is an AI Contract Drafting & Review tool developed by Rally Legal.

2. Who has developed Spellbook?

Spellbook is developed by Rally Legal.

3. What AI model does Spellbook use?

Spellbook uses OpenAI's GPT-3 language model.

4. How does Spellbook assist legal professionals?

Spellbook assists legal professionals by drafting and reviewing contracts. It can instantly draft new clauses and entire sections based on the context of the agreement, detect aggressive or unusual terms, suggest important language and clauses that may be missing, and provide common points of negotiation.

5. What are the key features of Spellbook?

The key features of Spellbook include its ability to instantly draft new clauses and sections based on the contract's context, detect aggressive or unusual terms, suggest missing important language and clauses, and propose common negotiation points.

6. Can Spellbook detect aggressive or unusual terms in a contract?

Yes, Spellbook can detect aggressive or unusual terms in a contract.

7. How does Spellbook work with Microsoft Word?

Spellbook has been integrated with Microsoft Word. This allows it to operate directly within the Word environment, providing its drafting and review capabilities where legal professionals are most likely to be working.

8. Is Spellbook currently available for everyone to use?

No, Spellbook is currently in early access. It will be gradually opening up to new users over the coming months.

9. How can I get early access to Spellbook?

To get early access to Spellbook, one must join the waitlist on the website.

10. Which sources does Spellbook reference for facts?

Spellbook references facts from sources such as Wikipedia and books.

11. What benefits can I expect from using Spellbook?

By using Spellbook, legal professionals can draft contracts significantly faster. The AI gets smaller details out of the way, allowing the user to focus on adding strategic value.

12. Does Spellbook suggest language for contracts instantly?

Yes, Spellbook suggests language for contracts instantly.

13. Can Spellbook propose common points of negotiation in a contract?

Yes, Spellbook can propose common points of negotiation in a contract.

14. In what context does Spellbook draft new clauses and sections?

Spellbook drafts new clauses and sections in the context of the specific agreement being worked on. It uses its understanding of the existing contract language and terms to generate additional content that fits seamlessly within the contract.

15. How does Spellbook differ from other AI contract drafting tools?

Spellbook differs from other AI contract drafting tools in its specific tuning for contracting, powered by GPT-3, and its integration with Microsoft Word.

16. What sources has Spellbook been trained on?

Spellbook has been trained on billions of lines of legalese, as well as other information from sources like Wikipedia, books, and the internet.

17. What future features can we expect from Spellbook?

In future, Spellbook will feature an 'Auto Diligence' capability which will automatically detect the most pressing issues across an entire dataroom.

18. How does Spellbook integrate with Microsoft Word?

Spellbook integrates with Microsoft Word, meaning it's capabilities are directly available within the environment where contracts are typically drafted and reviewed. It doesn't require users to leave Word or switch to a different application.

19. What is the technology behind Spellbook?

The technology behind Spellbook is OpenAI's GPT-3, a massive large language model providing high performance text generation capabilities.

20. Is there any customer support available for Spellbook?

The information about customer support for Spellbook is not explicitly detailed on their website.