This new Claude skill saves you from bad contracts - and costs less than a lawyer

Anthropic has introduced Claude for Small Business, a library of small business-related connectors and skills for Claude Cowork. While this may not be particularly groundbreaking, one tool stands out as a game-changer: the /review-contract skill. This feature uses AI to analyze contracts and identify potential risks, providing a clear and concise report.

Lina Ochman, Anthropic head of US SMB and product-led growth GTM, emphasized that small businesses deserve the same access to AI as Fortune 500 companies. "Small businesses make up nearly half the US economy and employ close to half the private-sector workforce, and yet historically, they haven't been equipped with the right resources, time, and education to effectively learn and use AI." The /review-contract skill is a straightforward and powerful tool. Users can upload a contract file to Claude Cowork, and the AI will analyze it, flagging potential risks and providing suggestions.

This process takes approximately five minutes. The feature was tested with sample contracts, and the results were impressive, with the AI identifying red flags and suggesting improvements. The benefits of this feature are numerous.

For one, it's cost-effective, available for as little as $20 as part of the Claude Pro tier. Additionally, users can share the results with the party they're negotiating with, potentially leading to concessions. While AI hallucination is a possibility, the /review-contract skill was spot-on in multiple tests.

Claude for Small Business includes 31 skills that work with connectors for apps ranging from QuickBooks to Mailchimp to PayPal. These prebuilt solutions can help small businesses streamline their workflows, but may require some customization to fit specific needs. Nevertheless, the /review-contract skill is a must-have tool for any small business, providing a level of contract analysis that would typically require a lawyer.