LexCheck, a leading AI-powered contract acceleration and intelligence platform, today announced the launch of LexCheck Copilot, an AI assistant for accelerating contract drafting, reviewing and editing. As a member of the Microsoft for Startups Pegasus Program, LexCheck developed this product alongside the Microsoft team, and it will be available exclusively in the Microsoft Store.
"The contracting process is ripe for transformation, as more than 50% of organizations report lost business due to inefficient contracting processes. With LexCheck's new contracting sidekick, negotiations flow faster without compromising quality," said Gary Sangha, CEO and founder of LexCheck. "While many legal tech companies have touted generative AI solutions, we recognize generative AI cannot stand alone to meet the unique needs of the legal domain. By marrying the power of generative AI with our proprietary technology, we have created a comprehensive solution to revamp how lawyers work in their most used application - Microsoft Word."
Copilot's optimized contract tools equip users with a variety of capabilities that streamline their workflows. Key features of the product include:
- Auto-proofreading: Common errors such as missing definitions and formatting inconsistencies are automatically surfaced.
- Reviewing issues in line: Users are directed to issues that need to be addressed.
- Suggested issue fixes: Recommended corrections are provided for issues found in the contract.
- Mutualizing provisions: Any unilateral language is mutualized by generative AI.
- Clause generation: Clauses can be generated on demand by AI.
- Defined Terms List: Copilot provides a list of defined terms in a document and flags any issues.
- Cross References List: The solution nstantly creates a list of cross-references within the document and flags any issues.
"LexCheck's new product transcends mere convenience, offering a dynamic range of benefits that expedite contracting workflows," said Jeffrey Franke, CEO and co-founder of LegalOps.com. "Lawyers, myself included, can now draft, edit and review contracts with greater efficiency. This forward-thinking innovation is able to give precious time back to lawyers."
Copilot is a plugin accessible directly within Microsoft Word, reducing the need for utilizing multiple applications.
"Microsoft is committed to working with high potential startups like LexCheck to help our customers do business better, easier and faster," said Tom Davis, Senior Director, Microsoft for Startups. "AI-driven solutions like Copilot have the potential to reshape the way lawyers and businesses manage contract processes."
LexCheck's new product is available to anyone at no cost starting today. To sign up for exclusive access to the beta version of Copilot, visit LexCheck's website.
