SpeedLegal vs OutRiskAI Detailed comparison features, price

SpeedLegal

SpeedLegal is a contract review platform that utilizes AI to accelerate and enhance the contract analysis process. It helps users identify risks, understand complex legal terms, and provides custom suggestions based on the specific contract type and user-defined standards.

The platform offers features such as automated contract summaries, risk analysis, and the capability to ask AI questions. It's applied and usable to the Common Law legal system, covering contracts in the USA, Europe, and Latin America.

OutRiskAI

OutRiskAI offers an automated solution for businesses, particularly Micro, Small & Medium Enterprises (MSMEs), seeking to identify and mitigate potential risks embedded within their corporate contracts. Utilizing advanced Artificial Intelligence, the platform analyzes contract documents to predict potential issues across various industries, ranging from finance to healthcare.

The tool focuses on delivering accurate risk predictions based on AI models trained on millions of data points. OutRiskAI emphasizes data security, employing up-to-date technologies to ensure user contract information remains confidential and protected throughout the analysis process.

SpeedLegal

Pricing

Paid

From 252$

OutRiskAI

Pricing

Paid

From 29$

SpeedLegal

Features

Red Flag Analyzer: Find hidden risks in your contracts and prevent unfavorable terms.
Personalized Suggestions: Receive tailored suggestions based on your specific contract needs and standard set by you.
Ask our AI: Get quick answers to your contract-related questions.
Automated contract summary: Understand complicated contracts with short and simple summaries.
Set your own contract standards: Customize your contract standards to match your business goals.

OutRiskAI

Features

AI-Powered Risk Prediction: Accurately predicts risks in business contracts using AI models trained on millions of data points.
Data Security: Employs the latest security technologies to keep contract data safe.
Wide Industry Coverage: Models can predict risks across a broad range of industries, including finance and healthcare.
Contract Uploads: Allows users to upload contracts for analysis (limits based on plan).
Contract Generation: Offers contract generation capabilities (limits based on plan).
Risk Analysis Limits: Provides a specific number of risk analyses per contract (based on plan).
Solution Suggestions: Offers potential solutions for identified risks (limits based on plan).

SpeedLegal

Use cases

Reviewing and understanding various contract types (e.g., MSAs, NDAs, employment agreements).
Identifying potential risks and unfavorable terms within contracts.
Getting quick clarifications on specific clauses or legal jargon.
Creating concise summaries of complex contracts.
Setting and maintaining consistent contract standards across an organization.

OutRiskAI

Use cases

Identifying potential liabilities in supplier agreements.
Assessing risks in client contracts before signing.
Reviewing partnership agreements for hidden clauses.
Ensuring compliance within service level agreements (SLAs).
Streamlining contract review processes for legal teams or business owners.
Mitigating financial or operational risks found in business contracts.

SpeedLegal

FAQs

What is SpeedLegal?

SpeedLegal is a technological startup that uses Machine Learning technology (specifically Deep Learning, LLMs and genAI) to highlight the terms and the key risks of any contract. We analyze your documents and send you a simplified report so you can make a more informed decision before signing your name on the dotted line.

Is my contract reviewed by a real lawyer?

Yes, for Startup, Growth, and Enterprise users.SpeedLegal uses Deep Learning models (AI) to highlight the key provisions and identify the main risks of a contract. We also offer an additional human check on top of the AI models to give our users more assurance. The human check is currently free (during Beta).

How are market standards created at SpeedLegal?

SpeedLegal creates its own Market Standards by analyzing tens of thousands of high-quality contracts and over 1 billion data points to cluster millions of targeted data points. Additionally, we consult with our Committee of Industry experts to fine-tune our standards, taking into account factors such as jurisdictions, contract types, parties involved, and key clauses. We recognize that data biases may exist, so we double-check our Market Standards with legal experts from top law firms and enterprise organizations to avoid any one-sidedness or unwanted biases.

Is SpeedLegal.io website secure?

We care about your contracts so we use the highest level of security to store and protect your contracts. Among our security protocols: Encryption SSL Certificate - SHA-256 With RSA Encryption, Firewall - Virtual Private Security groups. We encrypt our user credentials on signup and ensure they are logged in through a secure channel.

Do you provide legal advice?

At SpeedLegal, we do not provide legal advice. Instead, we serve as a contract reading facilitator and provide statistical inferences to support your decision-making processes. As an Alternative Legal Service Provider (ALSP), our focus is on offering innovative solutions for contract management and contract augmentation, similar to companies in this segment. Our primary goal is to enhance efficiency and streamline your contract negotiation process while working in collaboration with your legal team. Please check our disclaimer.

OutRiskAI

FAQs

Why do I need OutRiskAI?

OutRiskAI helps identify and mitigate risks in business contracts using AI automation, aiming to save time and prevent potential issues.

How can I get started with OutRiskAI?

You can get started by choosing a suitable pricing plan (Basic or Pro) or contacting sales for the Enterprise plan via their website.

How does OutRiskAI assess risks in corporate contracts?

The platform uses AI models, trained on millions of data points, to analyze contracts and predict potential risks across various industries.

What does OutRiskAI provide after assessing a corporate contract?

OutRiskAI provides risk analysis and suggests potential solutions for the identified risks within the contract, with limits depending on the chosen subscription plan.

Is my contract data secure on OutRiskAI?

Yes, OutRiskAI states they use the latest security technologies to keep user contract data safe.