Latch AI - AI Contract Review for Legal Teams
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Latch AI Brief Overview
Latch AI is an enterprise-focused AI contract review and “contract intelligence” platform designed to help legal teams review, negotiate, and understand agreements faster—without losing consistency or control. Instead of working in a separate web editor, Ivo is built to fit into common legal workflows, especially Microsoft Word, where most redlining already happens.
At a high level, Ivo helps you (1) review a contract against your internal standards, (2) generate or apply suggested redlines and comments, and (3) pull insights across large sets of contracts using a repository and an AI assistant. It’s positioned for in-house legal teams (and teams that work closely with legal like procurement or sales) that want faster first-pass review, more consistent playbook enforcement, and clearer visibility into risk, renewals, obligations, and deviations across their contract portfolio.
Simple How-to-Use
- Request access / onboarding: Ivo is typically implemented with an onboarding process rather than a self-serve checkout.
- Install the Ivo Microsoft Word add-in: Once enabled by your organization (and IT, if required), you can use Ivo inside Word.
- Set up Playbooks: Create or generate Playbooks based on your templates and prior agreements, including preferred clauses, fallback positions, and standard comments.
- Open a contract in Word: Use Ivo to run a review against the relevant Playbook.
- Review issues and suggested edits: Ivo can flag non-standard or risky provisions and propose tracked changes and/or comments.
- Generate outputs for stakeholders: Create issues lists, summaries, or email-style memos to speed internal review and approvals.
- Use Repository + Assistant for portfolio questions: Query your contract set in plain language (e.g., renewals, liability caps, non-standard security terms) and follow up conversationally.
Key Features and Functions
- Microsoft Word-native workflow: Review and redline directly where lawyers already negotiate.
- AI-driven contract review & redlining: Suggested tracked edits and comments, plus the ability to refine outputs.
- Custom Playbooks: Clause libraries, preferred language, fallback positions, default comments, resolution guidance, and guardrails/approval rules.
- Benchmarks / risk flagging: Highlights high-risk or non-market terms to focus reviewer attention.
- One-click reporting: Configurable issues lists, summaries, and memo-style reports for faster business alignment.
- Multi-format support: In addition to Word, Ivo supports work with formats like Google Docs and PDFs (and may support workflow handoffs via channels like email/Slack, depending on configuration).
- Repository (contract intelligence): AI clustering of related documents (e.g., amendments), composite agreement visibility, deviation analysis, and AI-generated columns/views created from plain-English prompts.
- Assistant (agentic help): Conversational help in Word and in the Repository, including multi-document review, Word-ready tables/reports, and clause-aware answers grounded in your documents.
- Security and data handling: Enterprise-grade security posture is emphasized, along with privacy and model-training protections for customer data.
Latch AI Pricing
Latch AI pricing is quote-based and typically sold as an enterprise subscription rather than a public, self-serve plan with posted tiers. To get exact pricing, organizations generally request a demo and receive a proposal based on their needs.
Pricing commonly depends on factors such as:
- Number of users (legal and business stakeholders)
- Which modules you deploy (e.g., Review, Playbooks, Repository, Assistant, Research)
- Contract volume and repository scope
- Implementation support requirements (playbook creation, integrations, controls)
- Security/compliance needs and enterprise rollout complexity
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