DraftWise: How AI Is Used in Legal Drafting by Law Firms
- Introduction: DraftWise is an end-to-end drafting and negotiation AI platform tailored for transactional lawyers. It streamlines the drafting process by leveraging client preferences and relevant data to produce flawless drafts swiftly. The platform is used by transactional attorneys from top global firms and in-house teams at Fortune 50 companies, enhancing their understanding, markup, and negotiation of contracts.
- Features:
- Integration with Microsoft Word: Allows direct access to knowledge and data within the drafting environment.
- Contract Automation: Automates routine tasks, enabling lawyers to focus on client interactions.
- Optimized Benchmarks: Uses custom benchmarks like DMS, playbooks, or EDGAR for faster drafting using preferred language.
- Advanced Search and Recommendations: Provides smart recommendations based on deal history to streamline the redline process.
- Security and Compliance: Maintains SOC 2 Type 2 compliance and other security certifications, ensuring data protection.
- Challenge Solved: DraftWise addresses the challenge of time-consuming contract drafting and negotiation by providing a solution that combines AI with a firm’s historical deal knowledge.
- Benefits:
- Efficiency: Saves time by quickly accessing the best contract language and client-preferred positions.
- Quality: Enhances the quality of drafting with smart recommendations and clause banks.
- Strategic Focus: Allows lawyers to concentrate on strategic aspects of deals.
- Recommendations for Use:
- Integrate With DMS: For seamless access to the firm’s knowledge.
- Leverage Auto-Generated Playbooks: To ensure consistency in language and positions.
- Use Clause Banks: For easy sharing and standardization of contract language.
For more information, visit DraftWise.
This summary is produced using Microsoft Copilot.
