SpeedLegal is an AI tool that helps you understand and negotiate contracts better. It can quickly identify potential risks and explain complicated legal terms in simple language. SpeedLegal also gives you personalized suggestions to improve your contract.
I love this project; it is exciting and will save many people time. Will you have a flexible pricing structure for those needing less than 50 but consistently more than two contracts? Say someone reviews 20 contracts a month but doesn't want to pay for the additional 30 that come with the subscription.
@j_moffitt the pricing works like a credit system.
So essentially you can take a plan that’s close to your needs, and add more credits when needed, or use your existing credits on next month’s plan
@j_moffitt@rajat_kapoor05 Thanks, Joshua; yes, we will have a flexible payment system based on your needs!
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I’ve used SpeedLegal for the past year and it’s improved greatly since I first started using it. While it can’t yet entirely replace a lawyer, it’s saved my company thousands in legal fees. For low-risk contracts, we use it in place of a lawyer. For higher-risk contracts, we use it for the initial review and negotiation, which often involves several back-and-forth cycles with the counterparty. Then we have a lawyer do a final review before executing the contract. Not only is this far less expensive, but it also accelerates the review process, as we get instant feedback, rather than having to wait days or longer for the lawyer to get back to us. With the latest updates, I feel that SoeedLegal is closing in on more mature (and more expensive) apps like SuperLegal. If you’re running a small company and want to slash your legal fees, you should definitely give this a try!
Thanks for your feedback @brad_konia! we are evolving as a product, and feedback like this is very important for us to understand what our users would benefit from the most!
Hi Hans! Great product for non-legal individuals or teams to review contracts! A couple of questions:
How does the tool work re local vs global compliance/laws? Can you set per region for eg?
Is the tool targeted at small to medium businesses (ie ones with no legal teams)? i.e., does it replace engaging an external lawyer (is the final contract legally binding)? Or is it targeted at med to large orgs & supports (for eg) product teams who review contracts before sending to their in-house legal team? Or all of the above?
Emily
@emily_willis1 great questions!
It helps you with both local and global compliance based on which type of contract you have and which country’s law it follows
Most beneficial to smaller companies with few or no lawyers, but bigger companies have a good use case too (speeding up their overall deal flow with faster review and negotiations) So to summarise, target to all the above you mentioned
@rajat_kapoor05 Brilliant, thanks! Definitely agree it saves a lot of time. I've reviewed loads of contracts in my time - a great use case for SMBs with no in-house legal team, it evens the playing field a lot.
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Ecellent product - I used it myself in 2022 at Cloud Academy Inc., my former company. It helped us gather and analyze all our Statements of Work, Master Service Agreements, and other sales documents, saving us thousands of dollars in external legal fees. Highly recommended.
Thanks for the support @serena_rossetti! It makes us super happy to know that you had a good experience with SpeedLegal!
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The product looks neat and is definitely helpful, would love to see how does this gets integrated with esignature platforms down the road as many of us receive most documents from there.
Keep it up team!
@adi_ra13 Great ideas, Aditya; we are adding more contract types as we speak!
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I'm impressed with this product, no idea it existed. I'm often overwhelmed with outsourcing legal bills, but this seems to be a nice to avoid that. Keep up!
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