TermScout

OneTrust sets a new standard in customer-centric business practices! They've taken a bold step by having their Master Terms of Service independently certified as 'Customer Favorable' by TermScout, a leading legal AI and contract analysis platform. 👏 Their certification underscores OneTrust's commitment to transparency and fairness in their customer relationships. By leveraging TermScout's Certify product, OneTrust has objectively demonstrated that their terms allocate risks equitably and avoid common 'deal breaker' clauses. 🕵♀️ OneTrust's proactive approach not only enhances customer trust but also streamlines the contract negotiation process, potentially accelerating deal closures. This move reflects a growing trend of using legal tech to create more balanced and efficient business relationships. 🤝 To explore the details of OneTrust's customer-favorable terms, check out their Certified Contract Report and the OneTrust Legal Center, both linked below. Let's applaud OneTrust for leading by example and setting a new benchmark in the industry! 🚀 https://lnkd.in/gVsWxnYF https://lnkd.in/gCGVdmTE

TermScout founder and CEO, Otto Hanson, helping kick off #BSW16 on the CU Boulder Founder Panel. Let the games begin!

In the rapidly evolving world of artificial intelligence, large language models (LLMs) are revolutionizing the way legal professionals work and it's crucial to understand the data protection terms governing these powerful tools. Join us for an insightful webinar where lawyer and founder of Tech Contracts Academy, David Tollen, and CTO and AI practitioner, Evan Harris, will provide a comprehensive analysis of the current data protection terms for leading LLMs. Attendees will gain valuable insights into the distinction between data and content ownership when it comes to LLMs, intellectual property rights, and the overall impact of AI on the legal industry. Register now and equip yourself with the knowledge to navigate the legal complexities of LLMs with confidence. #legalAI #legaltech #lawtech #AI #FutureofLaw #AILaw #LegalTechnology

Check out these new training options from David Tollen, Founder at Tech Contracts Academy, for legal teams looking to up-level their enterprise skills, especially with AI contracts. #legaltech #legalai

We're excited to promote the new AI-powered Microsoft Word add-in by Screens, a game-changer for legal professionals looking to automate systematic and tedious tasks like contract review and redlining. By integrating advanced AI capabilities directly into Microsoft Word, Screens can significantly reduce time and effort, accelerate contract approvals, and improve business outcomes. Learn more and watch a short video on how it works...... https://hubs.la/Q02wpt9k0

Here's how to review and redline a contract with ScreensAI in just a couple minutes. Last week I provided a comparison of leading LLM providers' commercial terms of service. Cohere had the most concerning contract, with language that plausibly allows them to use your input data to train their LLMs. This video shows how to use our product to mark up their contract and negotiate more favorable terms. If they made these changes, they'd be more comparable to other market leaders like OpenAI and Anthropic.

Curious about which top large language models offer the best data protection terms? In Legal Evolution's Fine Print Face-Off: Which Top Large Language Models Provide the Best Data Protection Terms?", you'll find a comprehensive analysis examining the data protection terms of leading large language models. Co-authored by TermScout CTO Evan Harris and lawyer and founder of Tech Contracts Academy David Tollen, this article meticulously compares and contrasts the fine print of various models, shedding light on their privacy policies and safeguards for user data. #DataProtection #Privacy #LegalTech https://lnkd.in/euwerWBY

A great article by our CTO Evan Harris laying out the benefits of using purpose built AI-powered software compared to general purpose chatbots like ChatGPT. You'll also learn more about some of the unique advantages of reviewing contracts with ScreensAI.

When using their own paper to procure IT-related goods or services, customers will indemnify the vendor for something only 27% of the time. Unsurprisingly, when looking at vendor paper, vendors will ask the customer to indemnify them for something 82% of the time. When both parties come to the table to negotiate, customers will indemnify the vendor for something 72% of the time. What lessons could we learn from this data? Customers want to limit their exposure when procuring IT-related goods and services and do not often preemptively indemnify the vendor for anything.  The market data shows that once they're negotiating, customers will ultimately agree to indemnifying the vendor for something quite frequently. The specific indemnity will of course vary depending upon the nature of the engagement. Are there other lessons you take away from this market data? Please share your thoughts in the comments!

Ready for some #ContractTrivia? Based on TermScout's market data for IT contracts, how often do you think customers have termination for cause rights in negotiated contracts?