> This is one of the best use cases for LLMs by the way - they can often explain contracts to you, or find flaws in contracts.
I respectfully disagree. Just hire a lawyer. You don’t want your understanding of your contract colored by the opinions of an LLM. The lawyer carries liability insurance if he gives you bad advice. If you don’t have a few hundred dollars to spend on independent legal advice, you might want to reconsider if you are in a position to be starting a business in the first place. The amount of money you could potentially save is nothing compared to what it could cost you in the future if something goes wrong.
Interestingly Ben Mezrich (author of The Social Network) said the Facebook partner who got hit by the stock-split clause terms had hired a team of lawyers - but he claimed they were really working for the Zuckerberg side, possibly in-house lawyers.
There might be great value in LLMs fine-tuned to deal with contractual law, regulatory law, and legislative interpretative dance. At present I'd be sure to run the legal contract through multiple different LLMS at the very least, and analyzing it paragraph by paragraph in debate club manner (LLM A: tell me why this is a good contract, LLM B: tell me why this is a bad contract, LLM C: analyze the flaws in the arguments of LLM A and LLM B, etc.) Doesn't replace a good contract law specialist human, certainly, but at least you can then talk to your lawyer in a semi-informed manner.
LLMs are like compilers in that unqualified faith in their initial output is never a good idea.
I respectfully disagree. Just hire a lawyer. You don’t want your understanding of your contract colored by the opinions of an LLM. The lawyer carries liability insurance if he gives you bad advice. If you don’t have a few hundred dollars to spend on independent legal advice, you might want to reconsider if you are in a position to be starting a business in the first place. The amount of money you could potentially save is nothing compared to what it could cost you in the future if something goes wrong.