LegalOn Technologies Co., Ltd.
U.S. subsidiary launches “LegalOn Assistant” that uses generation AI to summarize English contracts and create clauses
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The US subsidiary of LegalOn Technologies Inc. (Headquarters: Koto-ku, Tokyo; Representative Director, Executive Officer and CEO: Nozomi Tsunoda, hereinafter referred to as LegalOn Technologies) has launched “LegalOn Assistant,” which uses generated AI to create English contract summaries and clauses. We have started offering. This function can be used with the AI contract review support software “LegalOn Review” provided globally by our US subsidiary. When users ask questions, we provide instant answers regarding contract details. In addition, we help speed up the process of drafting English contracts by creating drafts of English contracts and suggesting summaries and amendments.
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LegalOn Assistant: https://www.legalontech.com/product/assistant About “LegalOn Assistant”
“LegalOn Assistant” is a function that supports faster creation of English contracts using generation AI.
・Answer questions about English contracts in seconds
Ask questions about contract content and get instant answers regarding legal and business terminology, saving you time searching for English contracts and legal terminology.
・Quickly create drafts
You can create a draft contract on “LegalOn Assistant” without switching to another application. We also suggest clauses and terminology that are appropriate for the contract content, depending on the user’s position and business background.
・Instantly summarize contracts and clauses
A concise and easy-to-understand summary is generated based on the contract details. Being able to quickly understand risks not only makes it easier to communicate with business units, but also speeds up reviews.
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All plans of “LegalOn Review” include “LegalOn Assistant”, and in conjunction with “AI Revise”*, a function to display revised English contracts that was launched in May 2023, We support the efficiency and quality improvement of English contract drafting and review
operations.
*Equipped with a function to display contract amendments using OpenAI’s latest GPT technology!
Officially released “LegalOn Review”, a global product AI contract review support software
https://legalontech.jp/6194/
Voices of users who used “LegalOn Assistant”
Golden Hippo(R) Associate General Counsel Kristen Jacobsen
When reading contracts, I use LegalOn Assistant to check the meaning of defined terms. “LegalOn Assistant” is very user-friendly and time-saving for users.
Industrial Service Solutions Corporate Associate Attorney Anthony Tommarello We use “LegalOn Assistant” to eliminate oversight of contract details and other sources of trouble. LegalOn Assistant helps identify risks and create new clauses from scratch. We have saved more than 50% of our work time so far.
Comment from VP of AI Gabor Melli
[Image 3: https://prtimes.jp/i/36601/436/resize/d36601-436-e5eedc51908ea1d30f44-1.jpg&s3=36601-436-7a6c5fba57624e05cf312988dc11618e-3900×2600.jpg] “LegalOn Assistant” has been thoroughly tested by many engineers and lawyers using their specialized technology and legal knowledge to support companies’ contract work. In addition, we have obtained SOC2 Type 2 certification, which certifies our high level of security and privacy protection, so that we can safely handle confidential corporate information. With LegalOn Assistant, we continue to lead the industry in expanding the possibilities of AI for legal professionals and advancing contract work.
LegalOn Technologies combines contract and legal knowledge with the latest technology not only in Japan but also globally, including the United States, to develop and provide software that improves the quality and efficiency of contract work.
■ LegalOn Technologies US (URL: https://www.legalontech.com/) LegalOn Technologies is the leading AI contract review software for legal teams, innovative lawyers and legal professionals backed at over 4,500 companies and firms globally. The company is by leading investors and has raised over $130M. Companies and firms interested in our technology can find more information and sign up for a demo at LegalOnTech.com. LegalOn’s US headquarters are in San Francisco, and its global headquarters are in Tokyo. Follow LegalOn on LinkedIn to stay up to date on the latest news and developments.
■ About LegalOn Technologies Co., Ltd. (URL: https://legalontech.jp/) LegalOn Technologies Co., Ltd. was founded in 2017 by two lawyers from major law firms. We develop and provide software that improves the quality and efficiency of corporate legal affairs by combining the legal knowledge of lawyers with technologies such as natural language processing technology and machine learning. We also contribute to academic fields, including joint research with Kyoto University. We have been providing the AI contract review platform “LegalForce” since April 2019, the AI contract management system “LegalForce Cabinet” since January 2021, and the AI contract review support software “LegalOn Review” in the United States since April 2023. [LegalOn Technologies Co., Ltd.]
・Company name: LegalOn Technologies Co., Ltd.
・Location: 6th floor, Toyosu Front, 3-2-20 Toyosu, Koto-ku, Tokyo 135-0061 ・Representative: Nozomi Tsunoda, Representative Director, Executive Officer, and CEO
・Business content: Development and provision of software related to contract operations
・Capital, etc.: 17.85 billion yen (including capital reserves, etc.) (as of June 2022)
More details about this release:
https://prtimes.jp/main/html/rd/p/000000436.000036601.html