AI contract review tools analyze a contract you already have: they flag risky or unusual clauses, summarize key terms, compare language against your standards or market norms, and suggest redlines. The point is to read an existing agreement faster and catch what a tired human might miss. Tools like Spellbook review drafts right inside Microsoft Word, CoCounsel and Harvey bring deeper analysis for firms, and Macro makes long agreements easier to navigate and mark up.
Lawyers, procurement teams, and founders use these to turn a slow page-by-page read into minutes, especially across stacks of vendor agreements or NDAs. Be careful with the verdicts, though: AI can misjudge a clause it doesn't have the full context for, and it won't know your specific risk tolerance or what was negotiated verbally. Treat the flags as a checklist of things to look at, not a final answer, and have counsel sign off on anything you're about to execute.