Spellbook
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Spellbook is an AI tool for drafting and reviewing contracts, exclusively on Microsoft Word.
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:
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Getting Started:
- Visit the Spellbook website and join the waitlist to gain early access.
- Upon access, log in to the platform using your credentials.
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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.
-
Reviewing Contracts:
- Spellbook can detect aggressive or unusual terms in a contract.
- It suggests missing clauses, provides negotiation suggestions, and alerts on aggressive terms.
-
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.
-
Referencing World Facts:
- Spellbook can reference facts from sources like Wikipedia and books to enhance the contract content.
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Future Features:
- Keep an eye out for the 'Auto Diligence' capability which will automatically detect pressing issues in a dataroom.
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Customer Support:
- While specific details on customer support are not provided, the tool is continuously fine-tuned based on user feedback.
-
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.
Pros
- Drafts contracts 3x faster
- Integrated with Microsoft Word
- Detects aggressive terms
- Suggests missing clauses
- Provides negotiation suggestions
- Drafts new clauses instantly
- Can reference world facts
- Tuned for contracting
- In-app language suggestion
- Aggressive term alert
Cons
- Only works with Microsoft Word
- Limited accessibility (early access)
- Reliability on GPT-3 accuracy
- No support for other languages
- Lack of established reputation
- Potential for data security issues
Spellbook FAQs
-
What is Spellbook?
- Spellbook is an AI Contract Drafting & Review tool developed by Rally Legal.
-
Who has developed Spellbook?
- Spellbook is developed by Rally Legal.
-
What AI model does Spellbook use?
- Spellbook uses OpenAI's GPT-3 language model.
-
How does Spellbook assist legal professionals?
- Spellbook assists legal professionals by drafting and reviewing contracts. It can instantly draft new clauses and entire sections based on the context of the agreement, detect aggressive or unusual terms, suggest important language and clauses that may be missing, and provide common points of negotiation.
-
What are the key features of Spellbook?
- The key features of Spellbook include its ability to instantly draft new clauses and sections based on the contract's context, detect aggressive or unusual terms, suggest missing important language and clauses, and propose common negotiation points.
-
Can Spellbook detect aggressive or unusual terms in a contract?
- Yes, Spellbook can detect aggressive or unusual terms in a contract.
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How does Spellbook work with Microsoft Word?
- Spellbook has been integrated with Microsoft Word. This allows it to operate directly within the Word environment, providing its drafting and review capabilities where legal professionals are most likely to be working.
Get started with Spellbook
Spellbook reviews
Rafael Fernandez
January 16, 2025
What do you like most about using Spellbook?
The efficiency of drafting contracts has greatly improved, and I love the AI's suggestions for negotiation points.
What do you dislike most about using Spellbook?
At times, it feels a bit rigid in terms of language suggestions, but I can always customize them.
What problems does Spellbook help you solve, and how does this benefit you?
It allows me to focus on strategy rather than getting bogged down in drafting, leading to better client outcomes.
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Marina Belochkin
February 4, 2025
What do you like most about using Spellbook?
The tool’s ability to reference global facts while drafting is exceptional and unique.
What do you dislike most about using Spellbook?
I found the initial setup to be quite time-consuming, but it was worth the effort.
What problems does Spellbook help you solve, and how does this benefit you?
It significantly reduces the time I spend on drafting, which helps me take on more clients.
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Aarav Chopra
February 24, 2025
What do you like most about using Spellbook?
The AI's insights into contract terms have been invaluable for my practice.
What do you dislike most about using Spellbook?
I would love to see more collaborative features for team drafting.
What problems does Spellbook help you solve, and how does this benefit you?
It allows me to create comprehensive contracts more efficiently, ensuring I meet all legal requirements.
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