Whether you're a small business owner or a legal professional, you can expect to deal with contracts and other legal documents. If only a couple of documents get lost, you or your client can miss a renewal date. When handling many documents daily, you may easily overlook a typo or two that can have a major impact. Luckily, in this age of technology, many regular processes can be automated. With the use of contract drafting software, you can streamline your contract flow and reap the benefits of automation.
Contract drafting and review software is a specialized tool used to create, review, and modify legal contracts, ensuring accuracy and efficiency while reducing potential errors and inconsistencies. The most prominent features of automated legal document preparation software include:
Time and financial savings;
Workflow efficiency;
Instant error elimination and risk mitigation in contracts; and
Team collaboration.
Most legal contract review tools use prebuilt artificial intelligence (AI) technologies to perform multiple tasks simultaneously. However, there are some possible drawbacks to the active use of AI-powered software for legal forms, including:
Costly software installation;
Time for teammates to get used to the software; and
Replacement of lawyers and their legal expertise.
Contract drafting and review tools should assist lawyers with their daily tasks, not vice versa. For attorneys, these tools provide improved accuracy and relief from the mundane work, enabling them to focus on higher priority, more valuable tasks. Still, final revisions from a legal perspective are necessary, especially when it concerns free legal document drafting software usage, since these documents depend on the individual client's circumstances, state law, federal law, amendments, etc.
The right legal drafting software for one company may be another firm's nightmare, and vice versa. In order to understand which tool would suit your needs, you will need to consider multiple factors. Following are some factors to consider in your search for the optimal software for legal documents.
Security: When you have access to people's personal and sensitive data, you certainly don't want anyone to abuse it. To determine what security measures the company uses, you may contact the software provider for a demo and inquire about the level of safety. Ideally, software for legal document drafting should work in accordance with GDPR compliance, SSL certificates, cloud storage on AWS, and/or encryption.
User Friendliness: Pay attention to how user-friendly your chosen software for legal documents is. The easier it is to use, the higher the chance that you will actually integrate it into your daily routine.
Customization: It may not be necessary if you only want some basic features, but if you're after a more personalized tool, customization can make the legal document drafting software a lot more effective and easier to use.
Integrations: If you're using other legal programs, keep them in mind when you select new legal document generation software. You may want the new software to integrate with your CRM, billing, document management programs, or other business software.
Customer support: Especially in the beginning, new users may encounter issues with their software for drafting legal documents. For that reason, look for companies that can be reached for answers within 24 hours, have 24/7 support, and/or offer a wide range of instructions for their product, including how-to videos.
What legal document creation software do lawyers use? There are multiple types of legal software for documents on the market. Each program has its own unique set of features. The following are ten great options to consider for your automation needs.
Being part of the legal tech ecosystem, Loio stands out from other software for drafting legal documents. This add-in focuses on contract writing and analysis using artificial intelligence (AI). In only a couple of seconds, the program can scan documents and spot mistakes, typos, or missing clauses. This software can be helpful for business owners and professionals in the legal field.
AI-powered: Loio uses AI to analyze contracts and create tailor-made solutions.
Compatibility: Loio quickly becomes part of any familiar document editor on macOS, Windows Desktop, and Office 365 online.
Security: The software guarantees total privacy and security to all of its users. Loio's team works in GDPR compliance and processes data at the highest standards for personal data protection. All the data you share is stored in a cloud storage with Amazon Web Services (AWS), according to standard security practices required by the U.S.
Demo contract: Loio provides each user with the opportunity to run a test with its software. Essentially, this is an embedded document file that you can click on to test Loio. For your first test, it's not your own data, so there is no need to worry about sharing sensitive information. With the test file, you can see if this software suits your needs, is truly easy to operate, and will effectively manage your contract workflow.
Customer support: Loio's support service guides users through complications and issues that may arise from using the software.
Tiers: Loio offers the following three tiers for this program:
Another legal forms software for attorneys, PandaDoc, is focused entirely on getting your documents ready and signed all in one place. To create a document, users are invited to the tool's software for drafting legal documents that use drag-and-drop technology. Pick the clause that you need and insert it in the proper place with just a few clicks. You also can add visuals to your documents and save them for when you need them.
Content library: Store graphics that you often use for contract creation, such as your company logo or relevant charts and tables, in PandaDoc's content library.
eSign: In order to bring your contracts to the finish line, PandaDoc supports electronic signatures.
Tiers: PandaDoc offers the following package tiers:
Agiloft invites all of its users to automate contract lifecycle management with its help. There is a specific CLM tool for the legal field that automates compliance and minimizes risk when working with legal contracts. Use Agiloft to write new contracts from scratch or put them together with the help of pre-made clauses from Agiloft's extensive library.
Contract lifecycle management (CLM): Agiloft can manage contracts from their inception to their end or renewal date.
AI-powered: Agiloft uses AI to analyze contracts and search for mistakes, discrepancies, risks, or missing clauses.
Security: Agiloft uses encryption to keep your data protected. Permission-based access ensures that only the people working on a document can view it. In addition, the software uses features to help ensure that all of your documents are compliant with your local jurisdiction.
Integration: Agiloft can be integrated with popular software, including Google Workspace, Microsoft Office, and Salesforce.
Tiers: Agiloft offers the following tiers for its software:
Lexis for Microsoft Office is a legal writing software developed by LexisNexis and adopted by Microsoft Office. It integrates with all Microsoft Office applications, making it the best legal drafting software for many Microsoft users. The software helps users draft legal documents using the sizable LexisNexis library of statutes, cases, and regulations. You can automate citation creation, research, and contract drafting without ever leaving Microsoft Word or Outlook.
Research integration: Lexis for Microsoft Office gives its users access to its very own legal research tool. You can do your research while you're still in the document.
Citation tool: The software has a legal citation tool that can check to ensure that all citations in a document are accurate. The Shepard's Citations Service by Lexis is a helpful tool for determining whether the cases you've cited can be used in that context
Security: Microsoft uses 2-factor authentication and data encryption to make sure its clients' sensitive data stays safe. You can decide who will have access to your document and how much control they can have over each document.
Tiers: Lexis for Microsoft Office offers the following package tiers for law firms:
This software allows users to create an approval flow to ensure that legal documents pass through all the necessary checkpoints. If you often work with similar documents, you can make use of the software's template maker.
Collaboration: Legito allows multiple users to work on one document.
User-friendliness: Users can store all their documents in the same place, divide them by categories, and reuse them when needed.
eSign: Integrate Legito with your eSignature provider to get your documents signed more quickly than meeting in person.
Security: Legito uses encryption to protect its users' data.
Tiers: Legito offers the following package tiers:
This legal document preparer software allows users to write contracts by putting different clauses together. Every user gets his or her own library of clauses to build and use across all documents. With a little bit of coding, you can set up each document to change in accordance with the text being inputted. You can program conditions into a contract so it can change as the document gets more specific.
Collaboration: Multiple users can collaborate on the same contract using this software for drafting legal documents.
Clause library: ClauseBase has its own library of clauses. Each user can take advantage of and contribute to the clause library. Store your most used clauses in the library so you can conveniently add them to new documents when needed.
Coding language: One of ClauseBase's unique features is its coding language. Users can automate document flow and customize documents by creating conditions and inserting variables.
Tiers: ClauseBase offers the following package tiers:
CobbleStone Contract Insight is a user-friendly contract management solution that manages a full cycle of contract creation.You can use the tool's available storage to store your contracts in one place.
Reminder: CobbleStone can flag users when a contract needs to be signed or revised or when its expiration date is approaching.
AI-powered: CobbleStone supports the idea that AI can improve the general quality of any document or a lawyer's work in general. Therefore, when people create new contracts using AI, it scans and analyzes existing contracts and templates to learn about your needs. Using that information, CobbleStone Contract Insight can draft new contracts and populate them with data.
eSign: CobbleStone enables you to manage contracts by integrating with electronic signature providers.
Tiers: This software for legal documents can be tailored to meet the unique needs of users. For this reason, the company shares its prices only upon request.
DealHub is primarily marketed to sales teams that use it to close deals with customers. DealHub makes the process of contract drafting easier by using its document drafting software to generate quotes, proposals, and contracts. It also uses electronic signatures.
Configure, price, quote (CPQ): One feature that sets DealHub apart from its competitors is CPQ. This solution can help users quickly and accurately prepare a quote or proposal for a new client.
eSign: DealHub can simplify the process of signing contracts through its integration with electronic signature providers.
Tiers: DealHub offers these tiers:
Ironclad is a contract management software for creating, storing, and tracking contracts. Users can store contracts in Ironclad's repository, search through them when needed, and separate contracts by categories and tags.
eSign: With the help of eSign integration, users can sign contracts without leaving the Ironclad software for legal documents.
Collaboration: The software can make working together easier and more straightforward. Using tools like task assignments, comments, and workflows, Ironclad can help users make sure everybody on the team is doing their jobs and working toward a common goal. Automatic reminders inform team members about deadlines and tasks that need to be done.
Automation: Ironclad has made simple contract creation almost entirely automatic. The software can generate a new contract for you using a template and some user input.
Tiers: As software for legal documents, Ironclad invites its users to get a custom quote through its website.
Rather than focusing on writing tools, Nintex provides a variety of automation solutions for businesses in different industries. This platform streamlines processes like employee onboarding, payroll, and customer support. It does so by encouraging users to visualize their processes using mapping techniques and automating simple tasks like sending notifications, collecting data, and generating documents via templates.
eSign: Nintex can be integrated with electronic signature tools like DocuSign to make signing documents quick and easy.
Nintex DocGen: This tool can help users write new contracts with the help of data from other integrated tools, such as an ERP system.
Nintex forms: Nintex Forms is a useful tool for collecting information. If you need to include information about a client in a contract, you can ask the client to fill out a custom form that you created. This way, you will avoid going back and forth via email and struggling to collect all the necessary information.
Tiers: Nintex offers the following package tiers:
There are many different types of writing software for legal documents available on the market now. When looking for a suitable option, consider the main features you need, your non-negotiables, and some additional features that you'd like to have, including the ability to share the document with teammates or a feature to insert a signature right into the document. Take into account the factors mentioned above and make sure the software you choose fits your needs. To see what tools are available on the market and how exactly AI can be applied in legal contract drafting, try Loio, a word-processing software for legal documents.