DraftWise

DraftWise is an AI-powered platform that streamlines contract drafting and negotiation for transactional lawyers. It integrates with Microsoft Word, allowing lawyers to access their firm's collective knowledge and data directly within their working documents.

Key features:

- Contract Auto-Pilot: Automates repetitive tasks, enabling lawyers to focus on client interactions.
- Advanced Search and Recommendations: Locates appropriate clauses or definitions and suggests alternatives based on firm data and public sources like EDGAR.
- Knowledge Management: Facilitates creation and sharing of clause banks and knowhow precedents, enhancing reuse of high-quality contract language.
- Unified Data Access: Integrates with Document Management Systems (DMS), Customer Relationship Management (CRM) systems, and deal databases for comprehensive firm intelligence.
- Preferred Language Optimization: Enables faster drafting using preferred language, reducing document creation time and effort.
- Data Security: SOC 2 Type 2 compliant, ensuring high standards of data security and ethical wall maintenance.
- Administrator Control: Allows administrators to manage data access and usage, maintaining trust and security.
- Microsoft Word Integration: Directly integrates with Microsoft Word, allowing lawyers to work in a familiar environment.
- Market Understanding: Provides insights into "what is market" for any given provision by comparing internal and public data.

How it works:

1. Users draft contracts using the auto-pilot feature to automate repetitive tasks and access preferred language quickly.
2. Lawyers review documents by leveraging the firm's historical data without manually searching through databases.
3. During negotiation, users employ advanced search and recommendation tools to find and compare clauses, ensuring optimal terms are included.

Integrations:

Document Management Systems (DMS), Customer Relationship Management (CRM) systems, Deal Databases

Use of AI:

DraftWise utilizes generative AI to enhance contract drafting and negotiation capabilities. The platform employs advanced natural language processing and machine learning techniques to provide intelligent recommendations and automate drafting tasks.

AI foundation model:

While the specific AI foundation model or Large Language Model (LLM) is not detailed, DraftWise leverages advanced AI technologies for its contract-related functionalities.

Target users:

- Transactional lawyers involved in drafting and negotiating contracts
- Law firms, particularly those in the Vault10, AMLaw 100, Magic Circle, and Seven Sisters
- Legal departments within corporations requiring efficient and secure contract management solutions

How to access:

DraftWise is available as a web app and integrates directly with Microsoft Word. It is a proprietary solution focused on providing secure services for legal professionals.