CoCounsel is an A.I. software platform that leverages exponential advancements in large language models to perform a wide range of tasks for transactional attorneys. Because CoCounsel has the ability to quickly understand and accurately synthesize vast quantities of data, attorneys can use this software to review, analyze, and edit a wide range of transactional documents.
There are 3 skills in CoCounsel's "Transactional" category, but each of the following skills may be helpful for common transactional tasks.
Extract Contract Data
You can use this skill to ask CoCounsel questions about a set of contracts. CoCounsel will identify and extract the relevant clauses from each contract that address your questions. It will then prepare a table containing answers to your questions about each uploaded contract. The AI will show you where it found the answer to each of your questions by identifying the specific language in each contract that is responsive to your questions
To learn more about this skill, please see the following article: How can I use CoCounsel to analyze contracts?
Contract Policy Compliance
This skill can be used to determine whether a contract complies with a specific policy or set of policies. CoCounsel will analyze a set of contracts for compliance with the policies that you describe and will then summarize its findings in a memo. CoCounsel’s memo will identify and explain any discrepancies between the policies you entered and any contractual clauses. In addition, CoCounsel will explain any risks presented by any contractual clauses and propose edits to those clauses to ensure compliance with the policies at issue.
To learn more about this skill, please see the following article: How can I use CoCounsel to determine if a contract complies with a policy?
During transactions, parties need to determine the current industry standard, precedent, or market trend for a certain contract term, provision, or clause. CoCounsel’s Market Check skill quickly analyzes a database of contracts to identify trending terms so that lawyers can immediately draft, negotiate, and redline with confidence. Market Check uses Casetext’s AllSearch database technology. You may create and search databases of your trusted contracts for trending terms, or search trending terms in a large, representative set of publicly available transaction documents from the SEC’s EDGAR database.
To learn more about this skill, please see the following article: What is the Market Check skill for Enterprise?
Search a Database
This skill can search through a large volume of documents in your firm’s database to find answers to your questions. CoCounsel will then prepare a memo that summarizes the answer to your question and identifies the documents that answer your question. The memo will include excerpts from each document that CoCounsel identifies as relevant, with hyperlinks to each document.
To learn more about this skill, please see the following article: How can I use CoCounsel to search a database?
Accessing transactional skills
From the Casetext menu, select "CoCounsel."
Select recently used skills, or select the skills menu to view all skills.
The skills menu will appear.
Important notes about CoCounsel
Think of CoCounsel like you would a colleague down the hall. How would you ask them a question? You don’t have to worry about what keywords or Boolean operators would optimize your search results because CoCounsel does all the work behind the scenes. It’s the largest language model ever created, which gives it the capacity to read, comprehend, and write in any language at a postgraduate level and at superhuman speed.
The use cases suggested above are not exhaustive. This is a highly adaptable tool that you can leverage to fit the specific needs of your practice.