Latch is an AI-powered tool that aims to assist legal teams in negotiating and finalizing contracts with greater speed and efficiency. It uses Open AI’s GPT-4 language model to analyze and understand agreements, offering suggestions on how to revise and update counterparty language based on a user’s standard position.
The tool’s interface enables users to toggle between suggestions, accept them, and generate redlines automatically that can be inserted directly into the document. Latch also provides a question-and-answer feature to help users navigate through an agreement with granular questions and open-ended queries.
Additionally, Latch can assemble simple, plain-language checklists for various situations, allowing users to analyze agreements to ensure compliance with their checklists. Data privacy is a central focus for Latch, and the tool’s privacy policy and terms of use are publicly available. Latch is suitable for dynamic companies, as it aims to help them minimize the time, effort, and overall cost of the contracting process.
The tool is cloud-based, and users can schedule a demo to explore its features further. In summary, Latch offers an innovative approach to contract drafting and negotiation, providing a comprehensive set of features that can streamline and expedite the legal team’s workflow.
More details about Latch
What unique features does Latch offer to assist me in legal contract reviews?
Latch provides an extensive suite of features to assist in legal contract reviews. Some key features include the generation of suggestions for revising counterparty language, automatic redline generation, a question-and-answer interface for navigating through agreements, and the assembly of simple, plain-language checklists for various situations. Users can easily toggle between suggestions, accept them, and insert redlines directly into their documents.
How does Latch as an AI tool reduce the overall cost of the contracting process?
Latch uses AI to automate and streamline various aspects of the contracting process. This reduces the need for manual involvement, saving time and hence cost. From providing suggestions on language revisions to generating automatic redlines and forming user-specific checklists, Latch eases many aspects of negotiating agreements, significantly cutting down overall costs.
Can Latch navigate directly to the relevant passage in the agreement?
With the help of checklists assembled by Latch, users can navigate directly to the relevant passages in the agreement. This supports thorough agreement analyses and ensures compliance with the user’s checklist.
Are Latch’s privacy policy and terms of use publicly available?
Yes, Latch’s privacy policy and terms of use are publicly available, ensuring transparency and reinforcing their commitment to data privacy.
Can I directly insert automatic redlines into my document using Latch?
Absolutely, Latch does provide the functionality to directly insert the automatic redlines it generates into your documents. This feature further simplifies and speeds up the contract workflow, requiring minimal manual intervention.
