Spellbook

What is Spellbook?

Spellbook is an AI Contract Drafting & Review tool developed by Rally Legal. It is a leading generative AI copilot for corporate & commercial lawyers, assisting with tasks such as drafting contracts faster, suggesting missing clauses, proposing negotiation points, and more. Spellbook leverages OpenAI's GPT-3 language model and is tuned specifically for contracting. It can reference world facts, detect aggressive terms, and instantly draft new clauses based on the context of the agreement being worked on. While it currently works exclusively with Microsoft Word and is in early access, it offers significant benefits to legal professionals by streamlining contract drafting processes.

Who created Spellbook?

Spellbook was created by Rally Legal and launched on October 13, 2022. This AI Contract Drafting & Review tool utilizes OpenAI's GPT-3 language model, providing fast contract drafting, review suggestions, and negotiation assistance for legal professionals. It has been tailored specifically for legal uses and is integrated with Microsoft Word for seamless operation within familiar environments. As of now, Spellbook is in early access and gradually becoming available to new users.

What is Spellbook used for?

• Drafting contracts 10x faster with AI
• Reviewing contracts with suggestions for terms
• Generating precise redlines based on instructions
• Getting small contract details out of the way
• Focusing on adding strategic value by clearing small tasks
• Instantly suggesting high-quality language and improvements for contracts
• Drafting new clauses instantly
• Detecting aggressive terms in contracts
• Suggesting missing clauses in contracts
• Providing negotiation suggestions
• Draft contracts faster
• Review contracts with AI assistance
• Detect aggressive terms in contracts
• Suggest missing clauses in contracts
• Provide negotiation suggestions
• Draft new clauses instantly
• Reference world facts
• Offer in-app language suggestions
• Alert about aggressive terms
• Generate precise redlines
• Draft contracts 3x faster
• Reference world facts in contracts
• Tuned for contracting
• In-app language suggestions for contracts
• Aggressive term alert in contracts
• Auto diligence feature in contracts

Who is Spellbook for?

• Corporate & commercial lawyers
• Transactional lawyers
• Corporate Lawyers
• Commercial Lawyers

How to use Spellbook?

Spellbook is an AI contract drafting and review tool developed by Rally Legal. Here is a detailed guide on how to use Spellbook effectively:

1. Getting Started:

   • Visit the Spellbook website and join the waitlist to gain early access.
   • Upon access, log in to the platform using your credentials.

2. Drafting Contracts:

   • Open Microsoft Word where Spellbook is integrated.
   • Start a new contract or open an existing one.
   • Spellbook will assist in drafting new clauses and entire sections instantly based on the context of the agreement.

3. Reviewing Contracts:

   • Spellbook can detect aggressive or unusual terms in a contract.
   • It suggests missing clauses, provides negotiation suggestions, and alerts on aggressive terms.

4. Engaging with Features:

   • Utilize the in-app language suggestion feature for precise contract language.
   • Seek out immediate unusual term detection and utilize the auto diligence feature for thorough contract review.

5. Referencing World Facts:

   • Spellbook can reference facts from sources like Wikipedia and books to enhance the contract content.

6. Future Features:

   • Keep an eye out for the 'Auto Diligence' capability which will automatically detect pressing issues in a dataroom.

7. Customer Support:

   • While specific details on customer support are not provided, the tool is continuously fine-tuned based on user feedback.

8. Technology Used:

   • Spellbook is powered by GPT-3 and GPT-4, providing high-performance text generation capabilities.

By following these steps, legal professionals can leverage Spellbook's features to draft and review contracts faster and more efficiently, ultimately enhancing their contracting processes.