Genie AI - Your AI Legal Assistant

Introduction

For centuries, businesses have relied on law firms to draft, review, and negotiate their legal documents. But that's no longer necessary. Let's walk through a common scenario for a rapidly growing company and see how Genie AI can revolutionize this experience.

Imagine your company recently secured investment, and your task is to ensure all company policies, employment agreements, and customer sales agreements are up-to-date before the year-end. After enduring hours of phone calls and lengthy email exchanges with your lawyer for three weeks, you finally receive one document back. To your dismay, the changes are minimal, yet you are slapped with an £8,000 or $ 10,000 bill. The thought of incurring such high costs for every legal document review and update is daunting.

While there are excellent law firms out there, this scenario is far too common, particularly when the billable hour promotes time over quality. If only you could reclaim that time and money. With Genie AI, you can.

Genie offers thousands of legal contract templates, agreements, policies, and letters to choose from. For example, if we want to update our sales agreements, we can search for a Master Services Agreement. With two options available, let's select the one used 21 times.

The page offers a wealth of useful information, including a description of the template, past users of the agreement, a version history showing regular updates, and even a complete preview of the template text without needing to sign up.

Once you decide to use the agreement, signing up brings you to the Genie editor where you see square brackets and variables highlighted in yellow, making it easy to fill in. If the template doesn't meet your needs or you desire a highly tailored agreement, you can ask Genie to draft something from scratch.

After finalizing your agreement, Genie can review it for accuracy and completeness. Click on the review feature and specify your role in the contract (e.g., supplier). Genie's AI review feature scans each clause in the contract, marking them as red (high risk), amber (medium risk), or green (low to no risk). A 30-page document, which might take a lawyer weeks and cost thousands, is reviewed in minutes.

For example, an automatic renewal clause flagged in red can be examined by clicking on the comment. Genie provides a detailed explanation, including key numbers, market standards, and potential negotiation points—a level of insight exceptionally useful when sending the document for client review. If you disagree with any risk categorization, you can instantly recategorize it for future reference.

Curious about the meaning of a clause in plain English, whether clauses are fair, or what the document might be missing? Ask Genie. You can edit the document, add comments, track changes, and even build in proper version control. Share the document with colleagues or clients for review and negotiation, and manage the project by adding new documents, renaming it, and sharing it with others.

Though initially built for the USA and UK markets, Genie AI now supports 32,000 law firms and businesses across 48 jurisdictions, helping them reduce legal fees and focus on their core business.

Remember, while it's in beta, the AI Legal Assistant is completely free to use.

Keywords

• legal document
• Genie AI
• contract review
• Master Services Agreement
• legal templates
• AI review feature
• legal fees
• client review
• contract negotiation
• version control

FAQ

What is Genie AI? Genie AI is an innovative platform that offers a wide range of legal contract templates and can draft, review, and negotiate legal documents using advanced AI features.

How does Genie AI compare to traditional law firms? Unlike traditional law firms that charge by the hour and can take weeks to process documents, Genie AI reviews and updates documents almost instantly at a significantly lower cost.

What types of legal documents can Genie AI help with? Genie AI provides templates for company policies, employment agreements, customer sales agreements, and various other legal documents.

Is Genie AI suitable for businesses in my country? Genie AI supports businesses in 48 jurisdictions, expanding beyond its initial focus on the USA and UK markets.

Is it free to use Genie AI? While in beta, the AI Legal Assistant offered by Genie AI is completely free to use.

Can Genie AI create highly bespoke agreements? Yes, you can ask Genie AI to draft highly tailored agreements from scratch that meet your specific needs.

How accurate is the AI review feature of Genie AI? The AI review feature meticulously examines each clause in the document and categorizes risks, providing explanations and suggestions typically expected from a professional lawyer.