If you could re-imagine your workflow, what would change? Where would you spend less time and where more? For most legal professionals, the answer is to spend more time on value-added work that requires their strategy and expertise, and less on routine tasks that drain time, such as drafting legal documents. Yet, in a recent Thomson Reuters study, 96% of respondents expressed dissatisfaction with the drafting tools currently available.
Introducing CoCounsel Drafting. As an extension of our newly launched professional grade generative AI assistant, CoCounsel, this addition uses generative AI to transform legal drafting. Operating within Microsoft Word, CoCounsel Drafting is an end-to-end solution addressing your drafting workflow from start to finish, to help begin, clarify, modify, and analyse legal documents.
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Kriti Sharma
Thomson Reuters Chief Product Officer for Legal Tech
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Here are some of the main benefits of CoCounsel Drafting:
Jump to ↓
| A starting point |
| Clauses that count |
| Indispensable playbooks |
| Compare and analyse |
| An end-to-end solution |
A starting point
Finding the right place to start is one of the most considerable pain points of document drafting. No one wants to start from scratch when other documents that have proven effective and provide continuity exist within a repository. 50% of survey respondents in Thomson Reuters’ Future of Professionals Report believe that AI will provide a suitable starting point for an assignment – such as contract drafting – but anticipate that they will “still need to do the majority of the work” themselves. In contrast, 37% feel that AI will give them a strong or “very strong” foundation to begin.
“We know that a critical problem to solve in the drafting process is finding a starting point,” continues Sharma. “In reality, a lot of time is wasted here. Finding the right document, which is perhaps in a DMS or your own internal SharePoint takes a ton of time. With CoCounsel Drafting, we’ve built the capability to help you find the right starting point based on what’s needed for that particular matter.”
In addition, CoCounsel Drafting is integrated with Practical Law Dynamic Tool Set or access to standard and automated documents and Contract Express templates to make starting a new document even easier.
Clauses that count
CoCounsel Drafting users can draft and modify clause language with the help of generative AI. Because it has been trained by expert lawyers and prompt engineers at Thomson Reuters, the AI model in CoCounsel Drafting delivers the most relevant clause language for legal professionals.
“Our GenAI solution enables you to generate new clause language,” says Sharma. “But it doesn’t do it from just anywhere. It’s grounded in Thomson Reuters content. It’s grounded in reality. We use a technique that’s known as retrieval augmented generation (RAG) to give you the highest confidence in the results.
“For example, you might want CoCounsel to not only generate, but modify a clause. You might want to make the language pro-seller. You can ask it to do exactly that. Then you can take the response, modify it, and tune it to fit the matter that you’ve been working on.”
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Indispensable playbooks
Playbooks are vital references for legal teams and their clients, and their consistent use is another way to save time and reduce repetitive work. With CoCounsel Drafting, users can leverage curated Practical Law playbooks or create custom playbooks that deliver preferred and required clause language and negotiation guidance.
“The playbooks in CoCounsel Drafting are entirely customisable to you, designed by you,” says Sharma. “So, you can tailor a playbook on your own firm’s expertise. Or even create something specific to a client, making it incredibly personalised and powerful. And you can be confident in the results it gives you.”
Compare and analyse
CoCounsel Drafting automates the redlining process by comparing contracts to find deviations. “Drafting is not just about creating documents,” Sharma goes on. “The review and negotiation process is a critical part of the work. Our tools enable users to understand how a redline document deviates from the standard, and it maps those changes against a playbook. It then flags risks, identifies missing language, and provides suggestions on replacement language.
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An end-to-end solution
Drafting legal documents can be time-consuming, full of distractions, and sometimes, monotonous. CoCounsel Drafting is a complete workflow solution that can increase productivity and save time, all without sacrificing quality. It gets users back to strategic, higher-value work faster.
“It’s an end-to-end solution from intake to final delivery,” concludes Sharma. “It helps you find a starting point and related documents. It connects you to research from Thomson Reuters content and the powerful AI expertise of our team.”
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