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Writing legal documents 13 Oct 2022

Spellbook

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Contract Drafting and Review for legal professionals.

Overview

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Spellbook is an AI Contract Drafting & Review tool developed by Rally Legal. It uses OpenAI's GPT-3 language model to assist legal professionals in drafting and reviewing contracts.

Spellbook has the capability to 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.

Spellbook is also able to reference facts about the world from sources such as Wikipedia and books. It is the only GPT-3 powered tool that has been tuned for contracting and integrated with Microsoft Word.

Spellbook is currently in early access and will be gradually opening up to new users over the coming months while they continue to fine-tune the product.

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Spellbook was manually vetted by our editorial team and was first featured on December 5th 2022.

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Pros and Cons

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

Q&A

What is Spellbook?

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

Who has developed Spellbook?

Spellbook is developed by Rally Legal.

What AI model does Spellbook use?

Spellbook uses OpenAI's GPT-3 language model.

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.

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.

Can Spellbook detect aggressive or unusual terms in a contract?

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

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.

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.

How can I get early access to Spellbook?

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

Which sources does Spellbook reference for facts?

Spellbook references facts from sources such as Wikipedia and books.

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.

Does Spellbook suggest language for contracts instantly?

Yes, Spellbook suggests language for contracts instantly.

Can Spellbook propose common points of negotiation in a contract?

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

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.

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.

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.

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.

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.

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.

Is there any customer support available for Spellbook?

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