Introducing a powerful Luminance alternative

SpeedLegal let’s you draft, edit, redline, review, sign and store contracts, all in one place, all with the power of AI.

Disclaimer - The information provided by SpeedLegal on the website (the “Site”) is for general informational purposes only. All information is provided in good faith, however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site. All the comparisons made here are as per the guidelines of the Federal Trade Commission.

Is Luminance right for you?

If your goal is simply to store contracts, sign existing ones, get a basic risk analysis, Luminance can do that for you.

However, if you require a more comprehensive CLM/CMS solution that allows you to review and analyze contracts, draft or edit them, or handle contracts in various languages, Luminance may not fully meet your requirements.

Let’s look at what’s missing and why should you bother -

Contract Summary - You still need to go through the entire contract line by line, every time you draft or get one to review. There’s no way to understand contracts quickly and avoid reading 20-30 pages for every contract you get.

Contract Risk Analysis - No contract is perfect, and if you sign contracts without analyzing the risks involved, it certainly won’t have a fairy tale ending. Luminance lacks the functionality to show your contract’s potential risks or red flags. Which again leaves you alone to take care of the potential risks.

So you’ll have to hire a lawyer separately to review each contract for you, despite already paying for Luminance.

Multiple Language Support - Contracting happens worldwide, and you might often need to sign contracts with parties in other countries. With no way to handle contracts in other languages, You’ll have to rely on other country’s lawyers to review your contracts, not to mention that you’ll need to store, manage and handle those contracts in a different place now.

Bulk document upload - This is a feature that might not bother you at certain points but individuals or entities dealing with more that 10 contracts at a time may find it annoying, not being able to upload a folder/drive having multiple contracts. 

Editing Contracts - Once you’ve sent a contract to the other party, there’s no way to make changes to it when using Luminance. So if you end up sending a contract with any mistake or a risky clause or you need to change a term as per negotiation, you’ll have to mark that contract as void, make a copy of the contract, change it there and then send it again.

Imagine doing this every time there’s a change in the contract.

When you consider all these factors, it gets clear that Luminance at the moment is far from being called a complete CLM solution for now.

5 key differences that make SpeedLegal the perfect Luminance alternative

Contract Summary
SpeedLegal has a unique way of providing a contract summary with their feature called “Contract Nutrition label™”. This gives you an overview of the basic structure of the contract including your obligations, rights and what can be sued for details, considering both parties.

Using SpeedLegal, give you the ability to understand your contract at just a glance and you don’t have to read the contract line by line to get these key details.
Bulk document upload
SpeedLegal gives you the ability to upload folders/files with multiple documents as well as accepts single uploads. In case that you have multiple contracts you won't have to bother to upload them one by one.
Risk Analysis
Coming to risk analysis, SpeedLegal has another unique feature, called “Red Flag Table™”. The RFT compares the contract values to the prevailing market standards and shows you the potential risks in you contracts. It also shows you what it should be replaced with, and gives you the power to do that with a single click.
Multi-Language Support
No matter in which Language you get your contracts in, SpeedLegal can help you manage all of them in a single place.
Drafting & Editing
SpeedLegal gives you the ability to draft your contracts along with the option to edit risky clauses in the existing ones. Now you don’t have to send entire contract every time there’s a change in them. You and your team can also add comments and collaborate on the platform to make the contract review process faster and smoother.

Watch SpeedLegal in action

Let’s see a detailed comparison

How does SpeedLegal compare with Luminance?

Notification and reminders
Contract collaboration
Central Storage
Contract templates
Mass document upload
Contract summary
Contract review
Risk Analysis
Multiple language support
Regulatory Compliance
Market Standard

What Our Customers Say

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