From today, get most powerful contract drafting software in the legal industry

Thanks to document automation, creating fully compliant, error-free contracts takes less than 60 seconds instead of 30+ minutes. All stages of a contract’s lifecycle are automated, which eliminates unnecessary legal document review and slow approvals while speeding up contract drafting by at least 80%. Also, legal document automation frees legal teams from having to take part in drafting every single document, providing them greater ability to focus on high-impact legal work.

There are several signs that can indicate if automated contract drafting will help your contracting workflows. For example:

• Legal takes too much time preparing simple contracts.
• Too many versions of the same legal document exist.
• Legal document review consistently takes longer than a day.
• Documents are consistently filled with manual errors.
• Finding the right contract template is no easy task.

Any one of these signs suggest that document automation will help you. But if your workflows suffer from more than one of these issues, then the impact of document automation will be even greater.

The basic requirements for a contract to be considered legally enforceable are: mutual assent, adequate consideration, capacity, and legality. The mutual assent requirement is sometimes defined as having four separate parts: a valid offer, intention, certainty, and acceptance. ContractWorks document drafting software will help you ensure none of the contract validity elements are ever missed in your agreements.

A contract plan is a special document that assists the individuals who are responsible for drafting and executing a contract and its terms. It can also be used by those who review contracts to help them verify a document draft satisfies the requirements of the plan.

A contract playbook is a special document that breaks down and explains all the elements of a company’s standard legal contracts. It may include contract types for specific situations, definitions of legal terms, description of clauses, description of fallback clauses (i.e. alternative clauses that the company is willing to accept during negotiations), reasons to walk away, outline of the signing and approval processes, guidelines for negotiations, and examples of standard legal documents.

ContractWorks was among the first legal tech companies to successfully implement GPT-3 AI technology into its platform. For now, ContractWorks provides two functions that use GPT-3: Clause Creator and Simplify. Clause Creator uses GPT-3 to draft contract clauses in seconds from scratch while Simplify translates contract language into simpler terms.