
SpeedLegal is a technological startup that uses Machine Learning technology, specifically Deep Learning, LLMs, and genAI, to highlight the terms and key risks of any contract. It provides a simplified report to help users make more informed decisions before signing contracts. SpeedLegal works with Common Law and is expanding to include more Civil Law states, operating with contracts in the USA and starting to see contracts in Europe and Latin America.
SpeedLegal does not provide legal advice but serves as a contract reading facilitator and offers statistical inferences to support decision-making processes. As an Alternative Legal Service Provider (ALSP), its focus is on innovative solutions for contract management and augmentation. The platform aims to enhance efficiency and streamline contract negotiation processes while collaborating with users' legal teams.
SpeedLegal was created by Hans Paul Pizzinini, who is a serial entrepreneur and a past Amazon employee. Together with co-founder Sami, they developed the concept in San Francisco after winning the Blockchain Hackathon at Stanford. SpeedLegal uses Machine Learning technology, specifically Deep Learning, LLMs, and genAI, to analyze contracts efficiently. The company's mission is to simplify contract understanding and foster human interactions by saving significant time for users.
To use SpeedLegal effectively, follow these steps:
Upload Your Contracts: Start by uploading your contracts in PDF or DOCX format, ensuring they are within the size limit specified.
Understand Contract Risks: SpeedLegal helps you understand hidden risks in your contracts by providing detailed analyses and alerts for common contractual issues.
Prevent Unfavorable Terms: Receive recommendations to fix unfavorable terms and errors in your contracts, with tailored suggestions based on your specific needs.
Ask Questions: Simply upload your contracts and ask questions to get quick answers in plain, easy-to-understand language, enabling you to make informed decisions.
Automated Contract Summary: Utilize the automated contract summary feature to get a brief and easy-to-understand overview of your contracts, including key details ready to share.
Set Your Own Standards: Customize your contract standards to align with your business goals, whether by uploading existing standards or starting from scratch with a template.
Market Standards and Security: SpeedLegal creates its Market Standards using machine learning and ensures the website's security with high encryption levels.
User Plans: Depending on your needs, you can choose from different user plans - Startup, Growth, or Enterprise, each offering various features and benefits.
Get Personalized Suggestions: Benefit from personalized suggestions to enhance your contracts and negotiate better terms, saving time and effort in the process.
Legal Advice Disclaimer: Note that SpeedLegal does not provide legal advice but acts as a facilitator for reading contracts and offering statistical inferences to aid decision-making.
Stay Informed: Stay updated with the latest features and launches by visiting the SpeedLegal website or contacting their team for any queries or support.
By following these steps, you can leverage SpeedLegal to streamline your contract review process, identify risks, and ultimately negotiate better terms for your agreements.
Paid plans start at $49/month and include:
I love how SpeedLegal quickly highlights key contract terms and potential risks. It saves me hours of reading through dense legal jargon.
The only downside is that it doesn't provide legal advice. Sometimes, I wish it could offer more guidance based on the highlighted risks.
SpeedLegal helps me make informed decisions before signing contracts. It boosts my confidence when negotiating terms with partners.
The AI-driven insights are exceptional! It breaks down complex contracts into digestible reports that are easy to understand.
There are occasional inaccuracies in the highlights, especially with nuanced legal terms, but overall it's quite reliable.
It simplifies the contract review process, allowing me to focus on the most significant risks, which ultimately speeds up our deal-making.
The platform is incredibly user-friendly and provides clear summaries that help me understand critical points at a glance.
Sometimes the interface feels a bit slow during peak hours, but it’s generally responsive.
It helps mitigate risks in contracts, allowing our team to negotiate with confidence and improving our contract turnaround time.