Paragon Legal Joins Forces with TermScout to Transform Contract Review with AI-powered Solution
September 20, 2023 | News
TermScout, the AI-based contract data and review company, and Paragon Legal, a leading flexible legal talent provider to corporate legal departments, today announced a new partnership to offer the Paragon Contract AI Bundle.
This partnership allows Paragon attorneys and clients to use TermScout’s industry-leading contract review AI to review third-party contracts, compare contracts against market standards, and develop automated contract review playbooks, all as part of Paragon Legal’s standard client offering.
Legal departments recognize the need for quicker, more data-driven contract reviews that save businesses time and money, and boost their efficiency to drive revenue. The Paragon Contract AI Bundle, powered by TermScout, addresses this need head-on by offering access to automated contract review tools that speed up deal cycles and revenue generation. TermScout’s AI technology, powered by proprietary training data, provides up-to-date industry insights, helping legal teams identify contract issues and negotiate terms more effectively.
“At Paragon, we want to be at the forefront of technology and want to equip our attorneys with the latest technology to serve our clients in the most efficient and cost-effective way. By partnering with TermScout, our team will not only have access to a tool to streamline the contract review and negotiation process, but they will also have access to critical market intelligence that will give them and our clients a competitive edge,” said Jessica Markowitz, President & COO of Paragon Legal.
Paragon Contract AI Bundle
Using the Paragon Contract AI Bundle, Paragon’s attorneys and clients gain access to a suite of advanced tools designed to optimize various aspects of contracting processes, including:
- Enhanced Screening: Build playbooks that analyze incoming contracts based on defined criteria.
- Rare Clause Radar: Instantly pinpoint the rarest clauses in certain contract types and sort them by who they favor.
- AI Legal Assistant: Get quick answers to questions about any contract from an AI chatbot trained on thousands of relevant legal documents.
- Human-Backed Verification: Obtain additional in-depth contract analysis within 24 hours through human-backed verification.
- Term Sheets Analysis: Break down reviews clause by clause for condensed summaries and insights.
- Sharing Capabilities: Download and share comprehensive reports from the TermScout platform.
“This partnership combines Paragon Legal’s expertise in providing flexible talent to in-house legal teams with TermScout’s AI-driven contract review capabilities. The result is a fusion of tech and services that will make every Paragon engagement stronger,” said Otto Hanson, CEO of TermScout.
To explore the possibilities the Paragon Contract AI Bundle offers, contact: firstname.lastname@example.org.
About Paragon Legal
Paragon is a premier legal services firm providing interim in-house counsel to businesses with growing legal services needs as well as Fortune 500 corporate legal departments in a wide range of industries.
Paragon’s unique model provides legal professionals with meaningful work outside of the traditional path, while also supporting its clients in everything from overflow work and special projects to hiring gaps and leave backfills — all in a cost-effective and flexible manner. To learn more about Paragon Legal, visit paragonlegal.com.
Founded in 2018, TermScout is the contract review network fixing how businesses make deals and consumers understand contracts. The company’s AI-powered platform provides insights and plain-English explanations to make contracts easier to understand, faster to sign, and fairer for all parties involved. Trained on the world’s largest human-reviewed contract dataset, the AI-powered, human-backed contract review platform lets users quickly understand what a contract means, identify red flags buried in fine print, and compare their paper against other companies to ensure best-in-class terms to reduce or eliminate negotiations. TermScout is backed by NFX, GroundUp Ventures, Techstars, HillTop Ventures, The LegalTech Fund, Bridge Investment Group and Underdog Labs. Learn more and try TermScout for free at termscout.com.