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Invoice template ai for Legal

hey this is Elizabeth Potts Weinstein and today we're going to look at whether or not you can use chat GPT or other AI to create legal documents and do legal research so for those of you don't know probably you do if you click on this video but um GPT is one of the AI the AI and I'm putting quote marks around that that exists for you to use to create things and there are different versions of AI out there there some of them are for making photos or art art like Dolly but then there's other ones that are used for text generation and people have been using these to write blog posts to write essays that they turn in at school which is a violation of ethical rules at their school but you know people do that to help them in to create all kinds of things in their business and one of the things that's going on is there's this idea that you could you use chat GPT for example to create anything that's taxed instead of paying for someone to do it so not just writing a blog post even though you could pay someone to write your blog post for you but could you use it to do legal research to generate contracts for you documents that you file in court all that kind of stuff so here's the thing I think there's a big misnomer among many people about what AI is we think of AI being artificial intelligence that it actually is intelligent but the truth is that all Rai is is recognizing and generating things ing to patterns so the algorithm is not creating the documents the what the algorithm does is it is a structure for this program to learn by being exposed to a gazillion tons of data and in some cases AI can be absolutely brilliant so for example AI is better than human beings and identifying whether or not someone has lung cancer based on x-rays because that is pure pattern recognition AI is actually better than expert people who do this for a living because it's just great computers are great at recognizing patterns but that doesn't mean that a computer is good at giving legal advice because legal advice at least as of right now isn't just pattern recognition and producing someone about something based on those patterns it is more than that and there may be a day where a computer can give you great legal advice about something but here's the reason that it's a problem right now is that Chachi PT is made to give you something that seems correct not something that is correct something that sounds right sounds plausible not something that is right so how does this actually work in reality if you ask chat GPT a question what it does is it gives you an answer that sounds like a lawyer could have written it it sounds like it could have been written in a blog post or be the text of some video but that doesn't mean that it is legally accurate it just sounds good these AIS are great at bsing they're not great at actually being correct so let me give you some examples of how this actually works and I'm going to start with things that I are actual facts um and these are things about me myself because I know facts about myself and then we're going to move on to let's play around with how this could work for legal research and for generating legal documents I actually think there are some cases where this can be very helpful in the legal world but maybe not how you think so let's go into chat GPT and I have it open here and I've asked it some questions over the last couple months so one of the questions actually is about myself because obviously I can verify whether or not certain facts are true what does Elizabeth Potts Weinstein do now I'm the only Elizabeth potts-wein that I know of there are other Elizabeth passes and other Elizabeth weinsteins but not other Elizabeth with pots weinsteins at least that I know of so Elizabeth Potts Weinstein is a lawyer author and entrepreneur she's alone for her work as a legal advisor and business strategist which I don't know if that's exactly true but maybe you could say that and then it says I have authored several books including the wealth Spa a sensible approach to financial Independence and how to successfully escape the nine to five grind and create the life you deserve those sound like real books they sound like I could have maybe written them but I can tell you right now that I did not write those books and nobody's written those books they don't exist let's actually put this into Google does anyone actually written this book no results found now if you don't put quote marks around it there's other people who have written similar things right about being financially independent retiring early Etc I actually had a Blog that was called the wellspa I don't know 15 years ago a really long time ago so it took information that exists and smashed it all together to create something that is plausible but not true I asked it other questions like what is my YouTube channel about and it said the right things that it is about legal stuff right totally the right answer that's about legal and business topics but then it gave them the some names of allegedly popular videos including how to trademark your business name five legal tips for starting your online business and how to create an LLC for your online business now those are actually pretty good titles for videos and it gave me some ideas for videos I missed a great five legal tips for starting your online business that's a great topic I have no videos that are called like this and this is one of the things that's really weird to me about chat GPT is that these AIS they're not even doing a Google search they're actually just they're not they're not checking the accuracy of things they are generating results that sound right that could be right in some alternative reality now it even gets weirder because I asked if I was ever a financial planner which I actually was a financial planner and then it went into this thing that I actually am currently a financial planner I'm the co-founder of epw wealth management that I run with my husband I don't have a husband so I definitely am not running this business with my husband or any other business with my husband because I don't have one and APW wealth management I'm actually going to Google that right now to make see if it is a thing that exists there's an EP wealth advisors that exists it actually looks like a fairly large place there's an epw investment Management Incorporated but I have not started a business with epw in it for financial planning and I don't do that now it says that I'm a licensed financial planner so by the way there's no such thing as a licensed financial planner you can be a registered investment advisor you can be a certified financial planner there isn't a licensed financial planner that's not like a thing that exists so that wouldn't really be corrected anyway I asked it then am I married and it said that I'm married to someone named Andrew Weinstein I don't know anybody named Weinstein and that we're the coat that person is a co-founder with me and that I have children which I do have a one child who is 18 is an adult but um I don't have children in the plural so anyway this is just an example of how these AI services will give you information that sounds very good but it's not necessarily accurate so let's go ahead and ask it about other things okay about legal things you may want to do and see what it does especially compared to like a Google search all right so let's say you want to know should I be a sole proprietorship or an LLC should my let's say life coaching business be an LLC or a sole proprietorship ah so they actually have it that you're not they're not it's not qualified to provide legal advice and then it's going to give us some information about this it's thinking okay I can't give you legal advice good because you're actually true as a sole proprietor you're the sole owner you're personally liable it's simpler and less expensive true formula LLC is layer protection in most cases it's only risk some tax benefits an LLC does not offer tax benefits that's actually not true if you have an LLC that is taxed as an S corp then you get tax benefits a plain old LLC isn't going to really have tax benefits um more flexibility when it comes to management ownership sort of decisions individual and you have to consult so this is what I'm talking about now it it is actually said saying it is not a lawyer right so let's go ahead and put this into Google and see what it says so you're going to get blog posts should I start an LLC for my life coaching business incorporating your coaching business how to set up a business do quick life coaches need it um if you look at the video one you're going to have things that are actually some of them are from lawyers I don't think I've done a video on that specifically um so here's one that actually is specifically should I start LLC for my life coaching business I haven't reviewed so for legal research questions it's not going to really be able to give you an any better answer than some random blog post so let's ask it a question that is that should have an answer um does oops let's here we go does a business in Los Angeles need a business license from the city yes business operating City Limits need a business license it depends on the type of its location so this actually gave a correct answer in my opinion that sounds good now one of the things that I think is very important to see is it doesn't cite anything I have no idea where it gets these answers from and so you how do you know if it's true it's not even giving you a link to where to go I mean you could probably ask it for that link let's see um give me me a link to City of Ally business license information let's see if it can do that yeah there you go if you click on that it opens it up oh no it doesn't it says page that look good it's lovely I'll tell you all right now let's see if and this is what I'm saying is I think for these types of questions you probably better off just putting it into Google so um City of La business license information if I put that into Google I get this let's see if I click on it oh look it's actually the right thing and I click on this these links all work so you're better off using Google versus a lot of stuff all right now let's see if we can get it to generate documents so this is something that I think might be a place where this could be helpful so let's say you want to send a cease and desist or say someone's infringing your trademark and you want to send a cease and desist letter but you and you want to sound like legal but you don't want to pay a lawyer because you don't have the money for it whatever so you're you need to come up with something that sounds very legal now you're not going to like signs of other lawyers name it's still just going to be from you because you're the one sending it but you want it to sound good so let's see if we can figure out how to get it to write write a cease and desist letter for someone to stop infringing a trademark my trademark my trademark okay all right this is a really good place to start and this is one of the places that I think is very interesting is generating stuff that sounds legally good now I am going to give you some information about this about the risks you have with sending letters like this but so obviously you have your name and date and printing party and blah blah blah I'm writing you regarding unauthorized use of my trademark blah blah which I haven't registered with the Trademark Office under registration number and then you have that I've really seen become aware that using my trademark connection with business activities your use is likely to cause confusion it may dilute the distinctness of my mark that these are great language things now I actually would in here would always say what the person did so I would like link to you're you're selling this product and I've linked to where they sell the product you know your use of it on this page you know I would give real specific examples because I want to tell them to do something your authorized use cons is trademark infringement violation of federal and state law me say send assessment using my trump getting web I actually will will tell them exactly what to do so I'll say I want you to stop selling this product with this thing on you have to stop using this thing you have to take that take it off of your website you have to take this logo down like I tell them really specifically what I want them to do because then they can do it it's possible be able to comply I'll take all an essay legal action please be advised may result in significant cost and expenses now one of the things is when you say this when you actually send a letter she's an assist letter that is fairly threatening in this way then they have the ability to file a lawsuit against you for declarative relief so it's saying that they don't infringe so it's just something to be aware of that if you send this to a larger business they could directly sue you to show that they don't infringe you so just something to know you're kind of being hardcore I request your response letter within X number of days very very good thing confirmative cease to use if I didn't respond then I will have no choice pursue legal action against you I usually don't say legal action I usually say I say something a little bit softer than legal action take your attention Abby Gonzalez amicably not need a further action so this is a fairly hardcore legal clutter and I'm not necessarily saying that this is exactly what you should send because there are times where actually it makes sense to send something a bit softer that's a bit more open to negotiation because this does give them the ability to file a declaratory relief action most likely however it is a place to start it is a place to start all right let's see if we can get it to write something else write a a software Consulting contract that's just a white a software Consulting contract let's just see what it does Okay so this so far actually looks halfway decent okay ownership of Ip term germination governing law so really what this is doing is it's creating a template if you one thing to remember is it isn't doing this ing to the law of any particular State this is like a generic template now one thing I think this could be really helpful for you is to give you an idea of what these things are supposed to look like so uh let's go up to the beginning um this kind of looks literous by having this thing so that's totally fine the software Consulting encounter made between day between this company and that company um the you have some kind of background that talks about what we're talking about here typically you're gonna have a scope exhibit a it will talk about what the details are of the project what the deliverables are what the compensation is going to be uh these are not refundable and payable in such and such terms the data the invoice you charge interests this is a very short confidentiality Clause so if you may need a more extensive NDA ownership of Ip so all IP created by consultant will be owned by client you may actually not want them so it's something to address also IP in the case of software you may need to go to a lot more detail with getting into what about things that are patentable et cetera term and termination effective date we'll keep going until terminated governing law laws of state of blah blah blah in the county independent contractor this is the entire agreement okay so whether or not certain things are enforceable in any particular state or whether or not this complies with the laws of any particular state is not addressed here so for example in some states when you have an independent contractor agreement it actually has to go into details about to justify the fact that this is a con independent contractor so it needs to go into the fact that the contractor can work wherever they want that you're not control the matter meanings of the which of how they're doing the services that they can work the hours that they want you know things that show that they're a contractor and not an employee so this doesn't go into those kind of details and that's the idea of this this is like a a place to start but it really doesn't go into enough details anywhere but it's actually kind of interesting let's do one more um create and else LC operating agreement for two members for a California California LLC with two members let's just see what it does there I wonder where it's coming up with this stuff I mean it is interesting to me in that way and the one thing that I'm getting from both from all these contracts and things is these are very very very very simple agreements and generally even I like I actually try to have my contracts that I draft to be very simple and straightforward this is really simple okay so for example all right it's created the formation and purpose of the come that's that's normal stuff name and principal place of business the term is Perpetual Capital contributions that's fine I usually I should put the chart right in here but that's fine we do schedule so this doesn't say anything about taxes so typically with the LLC operating agreement or partnership agreement for that matter I would say something about how this business is going to be taxed I would say something about distributions to pay taxes stuff like that the profits and loss would be allocated ing to the interest oh it's implying that the interest percentages are in schedule a got it uh it doesn't say what the tax status is I don't think the members will manage it and then the manner it can delegate managers so typically the contracts like in the operating agreements that I create I actually go into more detail in what the how the management structure will work so for example you have two members the default is that either of them can do anything on behalf of the LLC and that may not be what you want you may want it that certain day-to-day things for the LLC can be done by either member but there are certain things they have to have unanimous agreement on like getting a big loan or signing a lease so you know stuff that over anything over a certain amount of money so you may want something more complicated that goes into things in more detail they're going to have meetings they can have the meetings in person by telephone video conference or by written consent that's very normal you have to keep books so dissolution and termination I go usually go into much more detail and one of the things that can happen with a business that's owned by two people is what if one of them is disabled it dies wants to leave the business becomes a terrible person who knows right how what's going to happen this doesn't address that at all I mean one of the wonderful things you can do in a partnership agreement an LLC operating agreement is address or shareholder agreement for Corporation is address what happens if things break down because this business is probably not going to last forever there's going to be some point where one or both people want to leave because they want to retire because they want to sell the business because they want to do something else because they're dead and so what happens then this doesn't address that at all right governing law state of California which makes sense because it's where it is and it can be amended only by written agreement the members okay so this is this is what I'm talking about these are good basic basic basic basic Frameworks but I wouldn't use this because you actually will almost always want something a little bit more complicated I mean this is incredibly overly simple so I think the only thing I would actually use this for to be honest the only thing I really use this for is generating ideas so if you want to think of blog post to write videos to make what kind of stuff goes in a contract I mean all kinds of things of brainstorming and getting ideas using this just like you would use Google to get some more research and more information and ideas is a great thing even looking at the stuff it produced about me gave me ideas for videos that I could do in the future and I think that's where we are with the chat GPT and the other AIS is they're good for idea generation but not really to give you accurate yeah again this is attorney Elizabeth potts-weinstein if you have any questions about what we talked about today feel free to post them in the comments below and I'll try to point you in the right direction thumbs up you found this video helpful subscribe for more videos like this and if you'd like to continue the conversation you can join the Discord for free or you can sign up as a member of the patreon links for all that are below thanks a lot for watching bye