Legal AI Co. LawGeex Launches Version 4.0 to Boost Inhouse Use

Israel-based legal AI company, LawGeex, has today launched a range of product enhancements to its doc review suite of tools for inhouse users, branding it version 4.0.

The pioneering AI company, which formed back in 2014, hopes that its new iteration will build on its ability to allow lawyers and businesses to quickly answer the key legal question: Can I sign this document?

The company said that new features include a significant design upgrade to ’empower customers to have deeper and wider control of their AI-powered reviews, contract editing and approval process’.

The main new features are:

  • More granular control when creating legal policies in the LawGeex Policy Center. The introduction of specific variations of legal concepts allows businesses more granular control in clause concepts they want to see — and do not want to see — in contracts before signing them. Based on these pre-set policies, the LawGeex’s AI can automatically accept, red flag or reject clauses in incoming contracts. In the example below, legal teams can specify variations of assignment (handing off the contract’s obligations) with a pre-set menu of options including “prior approval required” “exception to prior approval” or “only prior notice required.”
  • Revamp of LawGeex’s Action Center — where the contract can be edited after the AI’s first line of defense. When reviewing a contract within LawGeex, customers can now clearly see which of their policies were applied to each clause and can red-line the contract within the platform, instantly inserting their company’s standard clause language with one click (LawGeex also provides default language). Users also have full visibility on their company’s clause definitions, fallback positions, tips, and more, during the editing process, bringing an unparalleled transparency and cohesiveness between a company’s policies and the actual contract review. The enhancements also include improved layout for LawGeex AI-reviewed contracts. Clauses are grouped simply by their status as “Missing” or “Present”, and reviewers are simply able to manually override the acceptance or rejection of clauses.

LawGeex’s SaaS platform and servers are also now fully ISO/IEC-27001 certified, ensuring the highest enterprise levels of privacy and security.

Michal Bell (pictured above) Head of Product at LawGeex said: ‘This new generation of LawGeex is based on detailed feedback from our clients.’

She explained: ‘This [new version] is significant as ensuring legal consistency across an organisation is one of the principles of LawGeex. For the first time, a veteran GC who has been at a company for 30 years, [or] a paralegal who has just joined or a non-legal member, will have at their fingertips the same institutional knowledge needed to effectively review and approve everyday contracts before signing them.’

‘This is through our revamped policy centre, providing more granular control when creating legal policies. In our action centre, customers can now clearly see which of their policies were applied to each clause and can red-line within the platform, ensuring consistency at every stage, and significantly reducing risk,’ Bell added.