Are You Using AI to Draft Contracts? · the skool CLASSIFIEDS

Are You Using AI to Draft Contracts?

As an attorney, I use AI to draft and review contracts on a daily basis.

But here’s the rub:

Once AI generates a contract for me, I have questions… challenges… nuanced follow up.

That applies to every single section of the AI-drafted contract.

Not because there’s something magical about me, but because I’ve been drafting and reviewing contracts for almost 15 years (for companies ranging from single person startups to multi-billion dollar global enterprises).

Without question, AI is the single biggest game changer in the practice of law since I graduated law school in 2010.

But unless you know how to prompt → review → repeat like an attorney when you use AI for contracts, AI can lure you into a false sense of security when using AI for contract drafting and review.

With the most basic prompt, AI will undoubtedly produce a contract that looks good and feels good.

But a contract that looks good doesn’t necessarily do what you need it to do. And that’s what CounselLab is for. In fact, we just launched a course (currently free) to show new members what we mean.

We start the class with a simple prompt: “Draft an NDA between my business and a potential investor.”

Does that prompt provide an NDA that looks good?

Absolutely.

Does that NDA actually achieve what the business owner needs?

No.

Over the course, CounselLab shows how to better prompt specifically for the NDA in question, and demonstrates a framework that business owners can use to prompt AI for drafting NDAs, and any contract.

What early students have learned is that when it comes to using AI for contracts, simple prompts don’t get the job done

Spoiler Alert: the prompt used by the end of the course is about a page long. For complicated contracts (e.g. Master Supply Agreements), my prompts can be multiple pages long.

Not interested in dedicating that kind of attention to prompts?

I hear you. And that’s the other reason CounselLab exists. CounselLab is exploring a tiered General Counsel model. Most small businesses don’t want to spend $250k - $350k per year on a General Counsel. But, they also don’t want to pay outside attorneys $500 - $1000 per hour to get a simple question answered, or contract drafted.

CounselLab provides a community sourced General Counsel for as low as $50 per month, or personalized one on one counsel for monthly fixed rates (a small fraction of what it costs for full time General Counsel).

But that’s enough from me. Ultimately, CounselLab is looking for a model that actually provides founders and small business owners with what they actually want. We want to provide a service that meets your needs where you are. So, we want to hear from you:

How are you addressing your current legal needs (e.g. contracts, disputes, compliance, etc.)?
If a legal service existed that better served your business, what would that look like?
What can we create for you?

I look forward to hearing from you.

https://www.skool.com/counsellab-7995/about

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Are You Using AI to Draft Contracts?