SpeedLegal

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SpeedLegal uses AI to highlight contract terms and risks, aiding decision-making without giving legal advice.

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What is SpeedLegal?

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.

Who created SpeedLegal?

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.

What is SpeedLegal used for?

Identifying key provisions and risks of a contract using AI and Deep Learning models
Creating market standards by analyzing high-quality contracts and data points
Providing security for storing and protecting contracts
Offering contract reading facilitation and statistical inferences
Working with Common Law and expanding to Civil Law states
Providing contract review services for free to individuals and underserved communities
Automated risk analysis to save time and understand key contract provisions and risks
Contract review for startup, growth, and enterprise users
Customizing contract standards to match specific business goals
Automated contract summary to understand contracts faster
Trusted by lawyers and professionals to find hidden risks in contracts
Alerts for common contractual issues
Preventing unfavorable terms and reducing oversight errors
Safeguarding interests with recommendations to fix contract errors
Quick answers to contract-related questions
Automated contract summary for easy understanding
Extracting key details for faster decision-making
Setting custom contract standards to match business goals
Reducing contract negotiation time
Automated risk analysis to understand key provisions and risks
Understand Contract Risks in Minutes
Trusted by Lawyers & Professionals for Hidden Contract Risks
Preventing Unfavorable Terms
Safeguarding Interests in Contracts
Get Quick Answers to Contract-Related Questions
Set Custom Contract Standards for Business Goals
Reduce Contract Negotiation Time
Identify Key Financials Faster
Trusted by lawyers & professionals for finding hidden risks in contracts
Enabling detailed analysis and spotting hidden risks & unfavorable terms
Providing alerts for common contractual issues to prevent unfavorable terms
Reducing oversight errors and safeguarding interests
Offering recommendations to fix unfavorable terms and contract errors
Solving red flags in contracts with a single click
Enhancing decision-making by providing quick answers to contract-related questions
Providing automated contract summaries for easy understanding
Allowing customization of contract standards to match specific business goals
Helping companies like Twinkly reduce contract negotiation time and identify key financials
Find hidden risks in your contracts
Prevent unfavorable terms
Safeguard your interests
Get quick answers to your contract-related questions
Automated contract summary
Set your own contract standards
Customize contract standards to match business goals
Faster Identification of Key Financials
Time Reduction in Contract Negotiations

Who is SpeedLegal for?

Lawyer
General Counsel
Legal Professional
Lawyers
Legal professionals
Contract managers

How to use SpeedLegal?

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.

Pros

Get detailed analysis, and spot hidden risks & unfavourable terms that might go unnoticed otherwise
Make informed decisions with the right data
Automated contract summary
Understand complicated contracts with short and simple summaries
Customize your contract standards to match your business goals
Save time and effort by starting with a template
Maintain contract uniformity by applying your company's own criteria to each agreement
Faster Identification of Key Financials
Time Reduction in Contract Negotiations
Estimated Saved in Outside Counsel
Find hidden risks in your contracts
Get answers in plain, easy to understand language
Add missing criteria back to your contracts
Get quick answers to your contract-related questions
Get answers in plain, easy-to-understand language

Cons

No specific cons or missing features were identified in the provided information.
It is not specified if SpeedLegal provides legal advice, which may be a limitation for users seeking legal counsel
It is unclear if the Market Standards at SpeedLegal cover all types of contracts and industries, potentially limiting its applicability
The number of contracts allowed per month is limited in the pricing plans, which may not be sufficient for users with higher volumes of contracts to review
The user interface and user experience of SpeedLegal are not reviewed or commented on, which could impact usability and satisfaction
The cons or drawbacks of SpeedLegal compared to other AI tools in the industry are not directly addressed in the provided information
No information on cons available in the provided documents.

Pros

Cons

Get detailed analysis, and spot hidden risks & unfavourable terms that might go unnoticed otherwise
Make informed decisions with the right data
Automated contract summary
Understand complicated contracts with short and simple summaries
Customize your contract standards to match your business goals
Save time and effort by starting with a template
Maintain contract uniformity by applying your company's own criteria to each agreement
Faster Identification of Key Financials
Time Reduction in Contract Negotiations
Estimated Saved in Outside Counsel
Find hidden risks in your contracts
Get answers in plain, easy to understand language
Add missing criteria back to your contracts
Get quick answers to your contract-related questions
Get answers in plain, easy-to-understand language

No specific cons or missing features were identified in the provided information.
It is not specified if SpeedLegal provides legal advice, which may be a limitation for users seeking legal counsel
It is unclear if the Market Standards at SpeedLegal cover all types of contracts and industries, potentially limiting its applicability
The number of contracts allowed per month is limited in the pricing plans, which may not be sufficient for users with higher volumes of contracts to review
The user interface and user experience of SpeedLegal are not reviewed or commented on, which could impact usability and satisfaction
The cons or drawbacks of SpeedLegal compared to other AI tools in the industry are not directly addressed in the provided information
No information on cons available in the provided documents.

SpeedLegal Pricing and plans

Paid plans start at $49/month and include:

Contract Risk Scores and Red-Flags
Comparison with Market Standards
Contract Summaries
Contract Nutrition Labels™
Contract Management Platform
Red-Flag Tables™

SpeedLegal FAQs

Can I skip reading entire documents?: It is up to you to decide if you’d like to read the entire documents or not. SpeedLegal highlights the important portions of the contracts, meaning you may just skim through the rest.

Is my contract reviewed by a real lawyer?: Yes, for Startup, Growth, and Enterprise users. SpeedLegal uses Deep Learning models (AI) to highlight the key provisions and identify the main risks of a contract. Additionally, there is an additional human check to provide users with more assurance.

How are market standards created at SpeedLegal?: SpeedLegal creates its own Market Standards by analyzing high-quality contracts and data points, consulting with industry experts, and cross-checking with legal experts to avoid biases.

Is SpeedLegal.io website secure?: Yes, the website uses the highest level of security measures such as Encryption SSL Certificate and Firewall to protect and store contracts securely.

Do you provide legal advice?: SpeedLegal does not provide legal advice. Instead, it facilitates contract reading and provides statistical inferences to support decision-making processes in contract management.

To which legal system is SpeedLegal applied and usable?: SpeedLegal works with Common Law and is expanding to include more Civil Law states. It currently operates with contracts in the USA and is starting to see contracts in Europe and Latin America.