Name: Speedlegal
Brand: AI_TOOL
Availability: InStock

Question 1

What is SpeedLegal?

Accepted Answer

SpeedLegal is a technological startup that uses Machine Learning technology (specifically Deep Learning, LLMs and genAI) to highlight the terms and the key risks of any contract. We analyze your documents and send you a simplified report so you can make a more informed decision before signing your name on the dotted line.

Question 2

Can I skip reading entire documents?

Accepted Answer

It is up to you to decide if you’d like to read the entire documents or not. SpeedLegal highlights the important portions of the contracts, meaning you may just skim through the rest.

Question 3

Is my contract reviewed by a real lawyer?

Accepted Answer

Yes, for Startup, Growth, and Enterprise users. SpeedLegal uses Deep Learning models (AI) to highlight the key provisions and identify the main risks of a contract. We also offer an additional human check on top of the AI models to give our users more assurance. The human check is currently free (during Beta).

Question 4

How are market standards created at SpeedLegal?

Accepted Answer

SpeedLegal creates its own Market Standards by analyzing tens of thousands of high-quality contracts and over 1 billion data points to cluster millions of targeted data points. Additionally, we consult with our Committee of Industry experts to fine-tune our standards, taking into account factors such as jurisdictions, contract types, parties involved, and key clauses. We recognize that data biases may exist, so we double-check our Market Standards with legal experts from top law firms and enterprise organizations to avoid any one-sidedness or unwanted biases.

Question 5

Is SpeedLegal.io website secure?

Accepted Answer

We care about your contracts so we use the highest level of security to store and protect your contracts. Among our security protocols: Encryption SSL Certificate - SHA-256 With RSA Encryption, Firewall - Virtual Private Security groups. We encrypt our user credentials on signup and ensure they are logged in through a secure channel.

Question 6

Do you provide legal advice?

Accepted Answer

At SpeedLegal, we do not provide legal advice. Instead, we serve as a contract reading facilitator and provide statistical inferences to support your decision-making processes. As an Alternative Legal Service Provider (ALSP), our focus is on offering innovative solutions for contract management and contract augmentation, similar to companies in this segment. Our primary goal is to enhance efficiency and streamline your contract negotiation process while working in collaboration with your legal team. Please check our disclaimer.

Question 7

To which legal system is it applied and usable?

Accepted Answer

SpeedLegal works with Common Law and we are adding more Civil Law states. It works with contracts in the USA and we are starting to see contracts also in Europe and Latin America!

Question 8

How much does it cost?

Accepted Answer

SpeedLegal is completely free for individuals (up to 3 contracts) and for underserved communities. Individuals usually sign 3 contracts per year: property rental, employment, and NDA. For more documents and extra features, we recommend having a look at our Startup, Growth, and Enterprise plans.

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