CoCounsel
Drafting
is
an
AI-powered
legal
drafting
tool
that
promises
to
revolutionize
the
way
legal
professionals
create
contracts
and
agreements.
Lawyers
can
spend
hours
just
trying
to
find
the
right
document
to
be
the
model
for
a
new
document
they
need
to
draft,
and
CoCounsel
Drafting
can
save
the
day.
Rather
than
reinventing
the
wheel
or
spending
hours
searching
for
prior
work,
users
can
utilize
the
generative
AI
assistant
for
the
document
they
need
to
create,
and
the
results
are
served
up
and
ready
for
refinement,
review,
and
finalization.
Find
Find
the
best
starting
point
by
searching
across
the
firm’s
repositories
(SharePoint
and
OneDrive,
additional
integrations
with
NetDocuments,
iManage,
and
HighQ
coming
soon),
or
utilize
Contract
Express
or
Practical
Law
Dynamic
subscriptions
to
find
templates
directly
from
within
Microsoft
Word.
See
Figure
1.
Figure
1:
CoCounsel
Drafting
allows
users
to
search
within
MS
Word
for
past
work
to
find
a
good
starting
point
to
create
new
documents.
There
is
no
need
to
waste
time
navigating
folders—simply
type
a
query,
and
CoCounsel
will
help
locate
past
work
relevant
to
a
user’s
current
drafting
needs.
CoCounsel’s
AI-generated
metadata
tags
and
document
summaries
ensure
accurate
search
results.
CoCounsel
Drafting
provides
lawyers
with
a
resource
that
goes
above
and
beyond
their
in-house
repository.
Firms
using
CoCounsel
Drafting
will
have
access
to
Practical
Law
Playbooks,
curated
sets
of
legal
guidance,
preferred
language,
and
negotiation
strategies,
which
serve
as
reference
guides
for
legal
professionals
during
drafting
and
negotiation.
Playbooks
include
standardized
clauses,
fallback
positions,
and
best
practices.
Users
can
leverage
existing
Practical
Law
Playbooks
or
create
custom
playbooks
tailored
to
their
specific
needs.
Playbooks
ensure
consistency
across
contractual
documents,
streamline
the
drafting
process,
and
align
with
professional
guidance.
CoCounsel
provides
access
to
Practical
Law’s
standard
document
model
agreements
and
automated
document
templates
so
lawyers
can
avoid
the
risks
and
costs
associated
with
manual
drafting.
CoCounsel
pulls
relevant
language
from
trusted
sources.
See
Figure
2.
Figure
2:
CoCounsel
provides
access
to
Contract
Express
and
Practical
Law
templates.
Users
simply
type
a
query
or
look
at
recently
used
templates
and
make
a
selection.
Once
a
template
is
selected,
the
user
is
prompted
to
enter
information,
and
then
they
can
generate
the
document
and
begin
the
refinement
process.
When
a
lawyer
searches
for
a
relevant
document
or
clause,
the
results
will
identify
whether
the
document
or
clause
is
from
the
firm
repository
or
Practical
Law.
Searches
are
done
without
ever
leaving
the
draft,
driving
efficiency
and
cost
savings
for
the
client.
Refine
Users
can
search
for
gold-standard
and
market-specific
clause
language.
Use
Practical
Law
Clause
Finder
from
the
Refine
menu
to
streamline
the
drafting
process
by
locating
specific
clause
types,
searching
Practical
Law,
internal
documents,
and
even
SEC
filings.
CoCounsel
isn’t
just
about
finding,
it’s
about
creating.
CoCounsel
assists
the
user
step
by
step
when
drafting
a
new
clause,
providing
direct
requests
for
quick
first
drafts
of
the
clauses
needed
or
modifying
existing
clauses
with
precision
using
CoCounsel’s
AI
assistance.
CoCounsel
Drafting’s
chat-based
interface
feels
like
having
a
legal
research
assistant
right
in
a
Word
document.
It
suggests
language,
clarifies
complex
terms,
and
will
summarize
lengthy
terms.
Review
CoCounsel
helps
users
comprehend
how
a
redlined
document
deviates
from
the
standard.
It
maps
these
changes
against
a
playbook
(such
as
Practical
Law’s
contract
playbooks).
By
flagging
risks
and
identifying
missing
language,
CoCounsel
ensures
thorough
review
and
compliance.
When
a
clause
needs
modification,
CoCounsel
provides
intelligent
suggestions.
It
recommends
replacement
language
based
on
context
and
legal
best
practices.
CoCounsel’s
AI
analyzes
the
document
for
potential
risks.
It
also
identifies
any
crucial
language
that
might
be
absent.
The
review
phase
with
CoCounsel
is
efficient
and
precise.
Whether
a
lawyer
is
negotiating
contracts,
analyzing
agreements,
or
preparing
for
litigation,
CoCounsel
accelerates
the
process.
Finalize
Once
the
document
is
assembled,
it’s
time
to
analyze
and
revise.
CoCounsel
Drafting
helps
check
for
common
drafting
errors.
It’s
like
having
an
eagle-eyed
proofreader
who
won’t
judge
for
excessive
semicolons
or
misplaced
“whereases.”
The
user
can
correct
any
slip-ups
to
ensure
consistency
and
accuracy.
See
Figure
3.
Figure
3:
CoCounsel
Drafting
identifies
common
drafting
issues,
discrepancies,
and
other
issues
that
would
take
an
attorney
hours
to
find.
CoCounsel
enhances
productivity,
increases
accuracy
and
consistency,
and
adapts
to
how
the
legal
team
works.
Big
firms
will
streamline
the
associate’s
workload,
general
counsels
will
be
thrilled
with
the
efficiency,
and
solo
firms
will
find
they
have
a
secret
virtual
assistant.
Integrations
and
Security
CoCounsel
Drafting
operates
directly
within
Microsoft
Word.
Legal
professionals
can
draft,
review,
and
refine
documents—all
without
leaving
the
familiar
Word
environment.
CoCounsel
collaborates
with
Practical
Law’s
content.
CoCounsel,
when
responding
to
a
natural-language
query,
summarizes
relevant
information
grounded
in
Practical
Law’s
expertly
curated
content.
This
integration
accelerates
moving
from
legal
questions
to
actionable
work
product.
For
thorough
research,
CoCounsel
enhances
Westlaw
Precision.
It
helps
lawyers
find
relevant
answers
faster
and
more
confidently,
streamlining
legal
research.
CoCounsel
is
evolving
and
continuing
to
find
ways
to
assist
legal
teams.
To
that
end,
Microsoft
365,
database
management
solutions,
and
tools
like
Microsoft
Word,
Outlook,
and
SharePoint
are
already
in
beta
integration.
Thomson
Reuters
is
actively
working
on
expanding
CoCounsel’s
capabilities.
Watch
for
future
integrations
for
risk
and
fraud
professionals
(CoCounsel
Fraud
Detection
and
CoCounsel
Investigators).
CoCounsel
accesses
the
underlying
AI
model
(GPT-4)
through
dedicated,
private
servers,
which
means
no
OpenAI
employees
can
see
customer
queries
or
documents,
and
confidentiality
is
safeguarded.
CoCounsel
uses
an
“eyes
off”
API,
meaning
no
human
reviewers
have
direct
access
to
customer
interactions
to
protect
data.
All
data,
whether
in
transit
or
at
rest,
is
encrypted.
CoCounsel
operates
under
Thomson
Reuters’
robust
security
practices.
These
policies
align
with
industry
standards
and
protect
against
unauthorized
access.
Pricing
Thomson
Reuters
offers
a
variety
of
subscriptions
and
licensing
options
for
CoCounsel
Drafting
and
other
generative
AI
solutions.
Contact
them
today
for
specific
details.
Who
is
Thomson
Reuters?
Thomson
Reuters
is
a
Canadian
American
multinational
information
conglomerate
that
has
played
a
pivotal
role
in
shaping
the
professional
landscape
across
various
domains.
Thomson
Reuters
enables
legal,
tax,
accounting,
compliance,
government,
and
media
professionals
by
fusing
reliable
content
with
state-of-the-art
technology.
Their
mission
is
to
provide
the
right
information
for
informed
decision
making.
Founded
in
Toronto,
Ontario,
Canada,
Thomson
Reuters
has
a
rich
history
spanning
over
150
years.
Thomson
Reuters
is
at
the
forefront
of
AI
and
technology
adoption.
Notable
offerings
include
CoCounsel,
a
generative
AI
assistant
for
legal
professionals,
and
Ask
Practical
Law
AI,
which
provides
summarized
answers
based
on
Practical
Law’s
expertly
curated
content.
The
company
is
committed
to
advancing
justice,
truth,
and
transparency.
In
summary,
Thomson
Reuters
clarifies
today’s
complex
landscape,
equipping
professionals
with
the
confidence
to
navigate
tomorrow’s
challenges.
Latest
Developments
and
Upcoming
Updates
-
Single
point
of
access
to
CoCounsel
artificial
intelligence
(AI)
skills
from
MS
Word,
including
Draft
Correspondence,
Contract
Policy
Compliance,
Extract
Contract
Data,
Timelines,
Westlaw
AI-Assisted
Research,
and
Ask
Practical
Law
AI. -
Create
and
respond
to
numerous
discovery
requests
powered
by
Gen
AI,
including
interrogatories,
requests
for
documents,
and
requests
for
admissions.
Access
a
database
of
exemplar
responses
to
draft
responses
and
objections
as
a
receiving
party. -
Accelerate
the
review
and
negotiation
process
by
creating
customized
playbooks
for
agreements
with
preferred
language,
negotiation
guidance,
and
escalation
information. -
Launch
of
CoCounsel
Drafting
UK
soon:
Features
for
UK
version
will
include
the
same/similar
features
as
the
US
launch.
Why
Buy
CoCounsel
Drafting?
-
A
comprehensive
solution
where
lawyers
prepare
documents
today.
It
uses
Microsoft
Word,
one
of
the
best
early
adopters
of
generative
AI
in
its
class,
and
legal
experts
to
train
its
users. -
Easy
integration
with
dependable
information
and
resources
from
Contract
Express,
Westlaw,
and
Practical
Law. -
Retrieval-augmented
generation
(RAG)-based
creative
AI
that
leverages
reliable
Practical
Law
content. -
Make
use
of
both
internal
and
external
resources
to
ensure
the
best
quality
assurance. -
Thomson
Reuters
provides
comprehensive
training
and
white
papers
to
support
users.
Learn
More
and
Save
Time
Drafting!
Reach
out
to
the
CoCounsel
Drafting
team
to
take
it
for
a
spin
and
learn
how
AI
can
help
you
create
new
documents.