Using ChatGPT to assist with contract clauses and writing
February 09, 2023
by a searcher in Chicago, IL, USA
I've seen a lot of conversation regarding specific language for clauses surrounding Earn Outs, Owner Compensation, etc. and thought I would create a little post to help folks efficiently address some gaps in their approach using artificial intelligence.
If you haven't see what the free AI language model, Chat GPT can do – it's time to dive in.
I've prepared a short video on how to use ChatGPT to create an Asset Purchase Agreement from scratch... In about an hour...
This is NOT legal advice and anything generated should be reviewed by a professional. What this IS, is a way to save Searchers thousands of dollars and dozens of hours "roughing things in". It's also a fantastic way to quickly address questions to common problems faced by this community. If you have questions or need help finding and acquiring a target company, please reach out, asymmetric effort for outsized results is something I excel at.
https://www.loom.com/share/aee70adb5fc146d88b762aec930351ab
from Dartmouth College in San Diego, CA, USA
An example:
* When asked about Obama’s early years the system will tell you that he moved to Jakarta at age 10. He actually moved at age 6.
That may seem trivial, but it’s also easy to miss. How could minor errors in legal documents impact the enforceability or interpretability of those documents?!
Measure your usage of ChatGPT in the cost of a mistake. If the cost of the mistake is trivial then using ChatGPT is a great resource. If the cost of the mistake isn’t trivial then ¯\_(ツ)_/¯
from University of Washington in Monroe, WA, USA