AI Contract Review Tool That’s Licensed to Practice Law
A few weeks ago, I wrote an article about a legal tech company that was fined for marketing its product as a substitute for an attorney. This was interpreted as essentially practicing law without a license, highlighting the dangers of such claims. This situation is partly driven by the fact that legal tech companies are in a ‘race to replace lawyers’ rather than pursuing a more realistic and purposeful goal: developing software that aids attorneys, reduces their time spent, and lowers costs for clients while still leveraging the attorney’s valuable judgment throughout the process. Superlegal is doing exactly that, and they are changing the game. In this article, I will discuss how they differ from what’s currently on the market.
Making Legal Tech Accessible to Non-Lawyers
Many legal tech tools on the market are designed for attorneys rather than consumers in need of legal services. Whether this is the founders' intention or not, if only lawyers can spot errors in the AI’s output and revise it, that becomes the inevitable outcome. This leaves entrepreneurs, who deal with multiple contracts daily, facing the choice of either taking the risk of using AI-generated contracts or paying expensive legal fees for standard contracts. They often just want an attorney to give the all-clear on their agreements. Superlegal provides contract users with the best of both worlds: the time-saving and cost-saving benefits of using AI in legal work, along with the assurance that an attorney has verified their contracts for their intended use.
Focus on Collaborating with Attorneys
Superlegal strikes a refreshing balance by not swinging to either extreme: attorneys only using AI because they can interpret its output, or clients using documents with errors or gaps in an attempt to replace attorneys with software. Their platform effectively combines the advantages of both AI and human judgment.
Passing on the Cost-Saving Benefits Directly to Consumers
A significant debate in the legal tech sector revolves around how AI-powered software will change the billable hour payment structure. One argument suggests that while law firms might internally use AI, they won’t disclose this to consumers or will charge for the product produced instead of the time spent, thus justifying high legal fees. Superlegal engages attorneys to work directly with consumers, helping negotiate fair prices while also reducing their workload through AI.
Creating Demand for Legal Services
There is a growing demand for legal services, particularly among entrepreneurs who wish to limit their risks. They deal with contracts daily and have intellectual property needs. For instance, many companies looking to expand into the U.S. need their contracts to comply with market standards, yet they are often intimidated by the legal service acquisition process. The experience of visiting large law firms, coupled with a lack of transparency about costs, can deter business owners—especially those on tight budgets. This often leads them to download templates from free websites, which they might use until a dispute reveals the inadequacies of their poorly drafted contracts. Superlegal is making legal services more accessible to those in need, ultimately increasing workloads for attorneys.
It’s Not Just a Contract Review Tool
Superlegal is not merely a contract review tool; it also offers various legal-related features, such as contract drafting, management, negotiation, analytics, collaboration, and signing capabilities. The platform creates playbooks that consider your firm’s specific policies and company preferences, along with Superlegal’s market recommendations, to minimize negotiation time and accelerate the process of getting new customers signed. By streamlining negotiations and reducing back-and-forth, Superlegal can turn contracts around in just 24 hours, expediting the signing process.
Conclusion
In conclusion, Superlegal stands out in the legal tech landscape by prioritizing collaboration between attorneys and clients, ensuring accessibility, and leveraging AI to enhance the legal process. By addressing the needs of entrepreneurs and small businesses, Superlegal not only improves the efficiency of legal services but also fosters a more informed and empowered client base. If you’re interested, you can try out Superlegal for free today—no minimum team size, long sales cycles, or complicated demos. Hit the ground running!