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A TermScout Alternative
10x Better In Every Way
SpeedLegal let’s you draft, edit, redline, review, sign and store contracts, all in one place, all with the power of AI.
Is TermScout right for you?
If your goal is simply to store contracts, sign existing ones, and get a basic risk analysis, TermScout 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, TermScout 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.
Multiple Language Support - Since contracting occurs globally, it is common to require contracts with parties located in different countries. Without the ability to manage contracts in multiple languages, you would have to rely on foreign lawyers to review your contracts. Additionally, you would need to store, manage, and handle those contracts in a separate location.
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.
Drafting and editing- The ability to draft and edit contracts is a crucial feature for an AI contract platform because it enables users to create customized contracts that meet their specific needs. The AI technology used in contract platforms can generate contracts based on pre-existing templates and user input, but often the generated contracts may not be entirely suitable for the specific situation. By providing the option to draft and edit contracts, users can modify the generated contracts or create entirely new ones from scratch to ensure that the resulting contracts accurately reflect their intended terms and conditions.
Contract negotiation- Negotiation is crucial in contracts because it allows the parties involved to reach a mutually agreeable agreement that satisfies their respective interests and concerns. A successful negotiation results in a contract that is beneficial to both parties and minimizes the risk of disputes or conflicts arising later on.
When you consider all these factors, it gets clear that Term Scout at the moment is far from being called a complete CLM solution for now.
5 key differences that make SpeedLegal the perfect TermScout alternative
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.
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Additionally, being able to collaborate on contract drafting and editing with other stakeholders in a secure, online environment can improve efficiency and reduce errors.
It's an important feature as negotiation can help establish a positive relationship between the parties, which can be beneficial for future collaborations.
Watch SpeedLegal in action
Let’s see a detailed comparison
How does SpeedLegal compare with TermScout?
