NEW CoreStack™ offering enhances Theorem member benefits and promises more market driven standardization w/ new standard contracting program for enterprise legal adoption.
Theorem LTS, the legal technology workflow integration platform and marketplace, is pleased to announce that TermScout—the contract rating company—offering customer-favorability ratings on the standard contracts used by more than 150 top software companies, and with the capability for analyzing any of the vendor contract terms on the Theorem Ecosystem, is now available through the Theorem LTS platform and marketplace. TermScout provides every firm with access to cost-effective, balanced and objective contract review, backed by real attorney analysis.
“Reducing contract friction in the vendor procurement process is among our client’s top priorities–an essential piece to more compliant and standardized legal tech adoption.” -JM
“We’re excited to welcome companies like TermScout into the Theorem Ecosystem. Partnering with TermScout to offer accelerated software contract reviews represents yet another important step towards our commitment to building a frictionless adoption lifecycle that puts technology in the hands of firms so they can better serve their clients, said Joshua Maley, Co-founder and CEO of Theorem LTS. The combination of our platform and TermScout’s AI-assisted attorney contract review architecture will allow legal teams to buy with confidence when working directly with vendor contracts.
We’re also excited to partner with TermScout in assessing our own standard and enterprise contract program for buyers and sellers to enroll.
“We’re excited to work with Theorem to help buyers and sellers in the Theorem Ecosystem reduce contracting friction and more quickly get deals done. This starts by giving buyers the ability to immediately assess favorability in vendor contracts. Over time, we’ll work with partners like Theorem to move away from bespoke contracts altogether and start working on standard forms like the Theorem’s Standard & Enterprise Contract." - Otto Hanson, TermScout
Theorem LTS was established with broad support from across the legal spectrum, intent on offering firms and legal departments more choice through greater access to alternatives that meet market-driven standards for integration, security and compliance.
About TermScout
TermScout is a contract rating company focused on software and related contracts. It measures more than 600 data points in every contract it reviews, leveraging AI and human attorneys for quality control, and uses that data to calculate objective favorability ratings benchmarked against the WorldCC Contracting Principles. The company is based in Denver, CO, was the winner of the Global Legal Hackathon (2018), participant in the LexisNexis Legaltech Accelerator (2019) and backed by Techstars Boulder (2020). To learn more visit www.termscout.com.
About Theorem LTS
Theorem LTS (www.theoremlegal.com) builds the legal tech platform and marketplace that power the adoption and integration of digital solutions for the legal industry. Theorem is bringing law firms and corporate legal departments into the future by enabling them to accelerate the adoption of AI and other new technologies. Theorem provides broad access to unprecedented buy/sell-side intelligence. The platform combines an integrated marketplace for legal technology with a powerful no-code workflow engine – making it easier to deliver legal services at scale. Founded by entrepreneur, former venture partner, and attorney Joshua Maley, Theorem LTS is committed to building on its vision with broad collaboration and support from all corners of the global legal ecosystem. To learn more, please visit www.theoremlegal.com.
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PRICING DETAILS (Purchase in-app or on ecosystem)
Law Firm and In-House Offer
SINGLE CONTRACT REVIEW - Just $99
Purchase access to a single contract. You'll receive our complete review of this contract, with in-depth analysis on 13 topics and comparisons to the best in class in the category. Access good for 1 year from date of purchase, and includes updates to the report if and when the contract changes.
Vendor Offers
Standard Review $99
Comprehensive review of your standard customer contract
Overall customer-fairness rating
Fairness ratings for each topic
Identification of material ambiguities
Overall rating publishes on Theorem and termscout.com immediately
Advanced Review $500 Comprehensive review of your standard customer contract
Overall customer-fairness rating
Fairness ratings for each topic
Identification of material ambiguities
Overall rating publishes on Theorem and termscout.com after 30 days (incorporating any updates to the contract during that period)
Pro Review $1,250
Everything in Advanced Review
Report and TermScout platform access, showing (a) how to improve your ratings, and (b) how your provisions compare to competitors