London’s Genie AI, a leader in AI legal technology, has revolutionised the negotiation of legal documents with a novel clause-by-clause approach.
This innovation offers a quick, visual method for reviewing legal documents, where users can indicate their stance on each clause using one of three icons: “Agree, disagree or unsure”. This feature aids in comprehensively tracking the progress of document review.
Traditionally, the turnaround of entire documents between parties caused significant delays. This often tedious process, unchanged for decades, resulted in numerous emails, document versions, and weeks of unnecessary delay. Genie AI’s new approach allows simultaneous markup by multiple parties on the same document, facilitating section-by-section and clause-by-clause review. This method simplifies complex documents, enhancing both speed and accuracy.
Genie AI’s platform now simplifies clause-by-clause negotiations, although individual users may still prefer private document review. This feature also helps in tracking the review process of extensive documents over multiple sessions.
Rafie Faruq, CEO of Genie AI, stated: “The end goal is to create a whole new mode of negotiation, reduce back and forth and save hours of time for every business deal. We want to not just help businesses reduce their costs and get their legals done faster, but create a whole new way of working that improves the structure of legal deals from the ground up.”
For Genie’s 40,000+ users, the AI “Review” feature highlights and comments on high-risk clauses, guiding users on where to exercise caution. Additionally, Genie’s AI “Ask” feature assists in rewriting disagreeable clauses, independent of legal fees.
Dr Max Grell, CEO of Blakbear, commented: “When reviewing long documents – and whilst collaborating with team members – it’s hard to keep track of which clauses have been approved or agreed and which still need review. Being able to tick, cross or have an icon to say we’re unsure on a clause level makes me want to use Genie instead of Microsoft Word for legal agreements.”
This feature also lays the groundwork for AI-based negotiation tools, as it establishes the necessary infrastructure for Genie’s AI to negotiate with counterparts.
Currently in Beta, Genie AI’s legal SuperDrafter toolkit is available for free. Lawyers, business managers, and self-employed individuals can register for a complimentary account at https://app.genieai.co/signup.
