Humans Hallucinate too. 60% of Public Company Contracts Contain Errors.
Spellbook, the leading AI infrastructure for contracts used by over 4,500 in-house legal teams and law firms, today released a new report showing that 60% of contracts filed with the U.S. Securities and Exchange Commission contain drafting issues. 40% of those issues are ‘high-risk,' defined as serious enough to change a clause's meaning or how it operates. The study, published by the company's research and analytics division Spellbook Labs,...
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