What are Risk Factors?
You can improve the efficiency of your document review by using Spellbook's Playbook feature to run a targeted analysis of a document against your specific requirements and needs.
You can add risk factors to these playbook rules to flag certain rules if they have a low, medium, or high risk, and depending on their risk level, if they need to be escalated.
How to Use Risk Factors in your Spellbook Playbooks
Use Spellbook's risk factors in Playbooks to help:
Flag low, medium, and high risk terms and clauses in your legal documents, helping you prioritize what needs attention
Generate risk factor reports to summarize key flagged issues
How to Use Risk Factors in Playbooks
1. Click "Playbooks"
2. You can then find the Playbook you want to edit and add Risk Levels to.
NOTE: Only the author of the Playbook has the ability to edit the Playbook. If you are not the author of the Playbook, please reach out to your Spellbook admin to confirm who can help you make these updates.
If you are unable to find the author, you can always clone the Playbook and make a copy for yourself. See more on how to Clone a Playbook here.
3. Click the cogwheel button
4. Click "Edit Playbook"
5. Click the pencil icon of the rule you'd like to add Risk Levels to.
6. Type in the rule title and rule you'd like to include.
7. Click "Risk Levels."
8. Three text boxes will appear, labelled Low, Medium, and High. In each one, type in your risk factors for the existing rule.
Example: If payment terms must be Net-30, if the document indicates a Net-30, that would be a low risk, Net-45 a medium risk, and Net-60 a high risk.
9. Click "Save."
10. Click "Run this Playbook" to run your customized rules.
11. Once loaded, you can click into the rule to see what Spellbook has flagged.
12. Spellbook will flag the risk level of the rule.
13. Click "AI Reasoning" to see why it was associated with that risk level.
14. Spellbook will give you it's reasoning, as well as provide references (listed as numbered bubbles) for you to click on to see where in the document it's getting the information from.
15. You can also download a report of these risk levels by clicking "Export" in the bottom right corner.
16. Click "Download."
17. Here is an example of the report Spellbook will generate for you.
For additional questions or support, please contact success@Spellbook.legal.