Liam Moriarty is a lawyer and co-founder of Lawgood, a SaaS legal tech company that provides a drafting platform for lawyers. Lawgood's platform uses AI to take care of the "mechanical language" in contracts, allowing lawyers to draft agreements much faster. It provides clauses tailored to the specifics of each deal based on lawyer inputs about client, industry, etc. Lawyers can easily modify the clauses to be more or less favorable to the client. This efficiency allows lawyers using alternative fee arrangements to deliver value and free up their time.
Lawgood partners with larger legal publishers to integrate their drafting tools into the publisher's offerings through "grey labeling". This allows Lawgood to reach a larger user base while letting the publishers provide added value to their subscription bundles without large development costs.
Looking ahead, Lawgood is exploring applications of large language models like ChatGPT. Liam believes these have potential to enhance legal services through summarization and document automation but are unlikely to fully replace lawyers due to limitations around precision drafting. Lawgood aims to build tools that make generative AI more accessible and useful for practicing lawyers.
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