Hi guys.
Welcome to this session.
So in this session we wanted to see how we can make use of ChatGPT for also coming up with writing a
contract for any kind of business.
So you can also do that.
We can give a specific prompt over here.
So let's have a look at it.
Let's say I want to give a specific prompt where I wanted to write a two paragraph contract agreement.
Licensing a music composition to a buyer.
The buyer does not get the intellectual property of the music composition, only the right to use it
in a project.
They can use it in a movie, let's say zero day and nothing else.
So this is the agreement which I want to make a contract agreement.
So music licensing agreement, you can see it's creating it.
Now this is something which ideally it is not recommended to go ahead and straight away start using
it for your business.
What is recommended is you can give it to the authority, the legal officials who can have a look at
it, proofread it and make changes to it.
And then possibly you can certainly use it Now, the other things which you can do with the agreement
is you can make changes to it as well.
So let's say I want to add certain things to the agreement.
I can do that as well by giving it another prompt.
Let's say I'm asking it to add in the agreement the idea of, uh, anybody from the both the parties
can modify the agreement by written consent.
So now you want to like to add this part to the agreement as well.
So the tool will rewrite the whole agreement for us by adding this particular bit to it.
Here it is by signing below.
Both parties acknowledge their understanding and acceptance of the terms outlined herein okay.
Agreement.
This agreement may be modified only by written consent signed by both parties.
So this is how you can get a good head start into building out contracts as well for your business,
which you can then quickly give it to your professionals who can have a look at it and modify it, make
changes to it, and then possibly use it for the business in the future.