Reviewing a 50-page contract takes hours and risks missing important provisions. AI can provide a thorough summary and flag key issues in minutes.
What to ask AI when reviewing a contract:
- “Summarize the key obligations of each party”
- “Identify any non-standard or potentially problematic clauses”
- “What are the termination provisions and under what conditions can each party exit?”
- “Are there any indemnification clauses? Summarize what each party is indemnifying the other against”
- “What are the limitation of liability caps?”
- “Identify any automatic renewal clauses or notice requirements”
How to do it: Copy and paste the contract text (or key sections) into Claude or ChatGPT. Ask specific questions.
Best for:
- Vendor contracts and SaaS agreements
- Commercial leases
- Employment agreements
- Client service agreements
- Partnership and JV agreements
Important limitations: AI identifies issues to investigate; it does not give you legal advice. Always have counsel review before signing any significant agreement.
For law firms: Use AI to do initial contract review passes, then spend attorney time on the flagged issues. Dramatically faster and more thorough.
What types of contracts do you most often need to review in your practice?