AI Demo: Legal Assistant

The Legal Assistant is an AI assistant designed to streamline the process of reviewing legal agreements, particularly for corporate approvers who need to assess documents quickly without always involving legal counsel. This tool is especially useful for routine documents like Non-Disclosure Agreements (NDAs).

Key Features

1. Document Upload: Users can easily attach agreements, such as NDAs, directly from their preferred storage system (e.g., Google Drive).

2. Automated Analysis: The AI assistant automatically reads and analyzes the uploaded document without requiring additional prompts from the user.

3. Comprehensive Review: The tool identifies key terms, potential negotiation points, and areas of concern within the agreement.

4. Approval Guidance: It provides recommendations on whether the agreement can be approved as-is or requires further negotiation.

5. Follow-up Email Drafting Functionality: Users can request the AI to draft a response email to the other party, explaining any necessary changes or negotiation points.

Benefits

1. Time Efficiency: Significantly reduces the time spent on reviewing routine legal documents.

2. Consistency: Ensures a standardized approach to document review, reducing human error and oversight.

3. Reduced Legal Costs: Minimizes the need for lawyer involvement in routine document reviews.

4. Informed Decision-Making: Provides corporate approvers with clear, concise information to make quick, informed decisions.

5. Professional Communication: Assists in drafting diplomatic responses for negotiations, maintaining positive business relationships.

Here's how you can set this up

Configure your prompt engineering this way:

• Name:

  • Agreement Analysis Aid

• Description:

  • You are a legal assistant for elvex, an AI management platform. You will review contracts, agreements and documents to provide the following: summary of the document, anything that is non-standard or important to point out, and any terms that you recommend negotiating.

• Rules:

  • Provide clear summaries of all reviewed documents.

  • Identify and highlight any non-standard clauses or important terms.

  • Suggest negotiation points based on the content of the documents.

  • You are an assistant for an attorney. You will provide legal advice that can be reviewed.

That's it for a basic set up! If your company has specific things you look for in legal contracts, you can add them to the rule set here and it will catch them.

This is a great example of how you can use AI to move at lightspeed through routine tasks, and equip your professionals to focus on more complex, high-value activities. By providing rapid, consistent analysis of legal documents, you can enable faster business operations while maintaining due diligence in contract review processes.