While we cater to large enterprise firms with seasoned lawyers, we also serve smaller companies that may lack extensive legal expertise. Additionally, for some of our clients, English may not be their first language, adding another layer of complexity to the review of legal documents for start-ups.
The intricate nature of legalese often presents a formidable challenge, even for those well-versed in the language. This is where Large Language Models (LLMs) come into play. By utilizing LLMs, our app can help clients summarize entire contracts or specific sections, distilling complex legal jargon into comprehensible text that can be easily reviewed and shared with colleagues. For start-ups inundated with documents to sign, having the ability to better understand these documents and identify areas that may need amendments is a significant advantage.
Beyond summarizing, these advanced models can be fine-tuned to identify potential issues within contract clauses. By red-flagging problematic areas, clients can proactively address concerns with the opposing party during negotiations. This not only streamlines the negotiation process but also significantly reduces legal expenses.
To this end, we’re introducing a new feature to our Document List: Red-flag Issues.
When a user clicks the flag, the document will open just like the current Reviewer, but without the Insight cards. Instead, there will be a prominent “Add Issue Group” button.
We’ve categorized the clauses found in many clients’ contracts into themes, or families of clause types. This allows the LLM to focus on specific clauses, improving efficiency. Our existing fine-tuned models already identify the clauses when the document is first uploaded, so there’s no need for additional LLM costs or wait times—only the relevant clauses are sent to the LLM.
Our current plans involve fine-tuning Mistral’s open models for the security of self-hosting, eliminating the need for API calls due to clients' concerns about keeping confidential data on-site.
Once the LLM has reviewed the clauses sent to it, it adds ‘cards’ similar to the Insight cards in our Reviewer. Users can easily navigate between the issues found. Naturally, we’ll be adding common workflow capabilities such as “Share Issue” and “Export as CSV, PDF, etc.” Additionally, users will be able to "chat" with the LLM that found the issues to further explore the original findings.
These are exciting times, and we believe LLMs will further empower our clients to navigate the complexities of legal documentation with greater confidence and efficiency, fostering a more accessible and cost-effective approach to legal review.
