AI that understands what matters in contracts.
What can TermScout’s API deliver?
TermScout's core strength is understanding the specific rights and obligations contained in a contract. Predicted answers to more than 100 pre-defined and carefully trained questions with 85-99%* accuracy. Always supported by confidence levels and citations to source language.
Example of how answer data can be used to power software applications.
Example of how ratings data can be used to power software applications.
Ratings predictions are highly correlated with TermScout’s well-respected Verified™ ratings. Favorability ratings can be used to power a number of unique application experiences, including competitive analyses, benchmarking, and any other use cases that can benefit from sorting contracts based on party favorability.
Showing how a given contract clause compares to various relevant market standards.
Example of how market data can be used to power software applications.
Example of how red flag data can be used to power software applications.
A rank-ordered list of potential red flags based on the perspective of the user of the contract.
Sales Assist + Procure Assist
Step One | Upload
Step Two | AI Review
Step Three | Request
Step Four | Leverage
Our AI API process is simple.
Just some of the things you can do with TermScout’s APIs.
Complete assignment analysis capability for M&A transactions with 93% accuracy* showing which contracts:
- Are assignable in an M&A or corporate reorg transaction
- Require consent to assign in an M&A or corporate reorg transaction
- Require notification to assign in an M&A or corporate reorg transaction
Limit of liability analysis with 94% accuracy* showing which contracts:
- Have no limits on the customer’s or vendor’s liability
- Have no exceptions to the limits on the customer’s or vendor’s liability
- Have no indemnity obligations offered by the customer or vendor
Confidential Information analysis with 96% accuracy* showing which contracts:
- Require the vendor to protect the customer’s confidential information
- Require the customer to protect the vendor’s confidential information
Flexible and scalable.
Whether you’re a CLM, procurement platform, or document storage service, TermScout’s API enables your customers to unlock powerful data about their contracts:
Unlock powerful data across your corpus of contracts to understand:
How does TermScout’s AI compare to other options?
|TermScout AI||Standard AI|
|Perspective orientation||Contract questions, ratings, and red flags orient around the perspective of the user in the specific contract (i.e., they change depending on whether the user is the vendor or customer)||Perspective blind or agnostic (i.e. reviews/ratings/results do not change based on the perspective of the user)|
|Contract-type orientation||Built around specific contract types in order to know what matters for that type, including what should and should not be present||Capabilities often built without regard to contract type; more limited, less accurate results on contract types covered by TermScout|
|Substantive question-answering||85-99% accuracy* on 100+ pre-defined substantive questions about the rights and obligations of each party; includes detection of both the presence and absence of clauses||Generally lower accuracy on a broader range of questions without the ability to query rights and obligations of a specific party|
|Contract favorability rating||For IT contracts and services agreements, ratings predictions are highly correlated with TermScout’s Verified contract reviews and widely accepted by users||A variety of risk rating algorithms attempted, none widely accepted|
|Confidence transparency||Predictions accompanied by confidence estimates helping users identify the highest risk predictions||Mixed. Some tools provide indications of prediction confidence, many do not|
|Entity extraction||More focused on identifying rights and obligations than extracting entities; not built for renewal dates or pricing info||Typically more focused on things like renewal dates, pricing info, etc.|
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TermScout’s published AI performance is based on a point-in-time analysis that was performed in November 2022. The analysis is based on a holdout set of randomly selected contracts that span multiple contract types relevant to TermScout’s products, including but not limited to IT Agreements, NDAs and Services Agreements. TermScout uses F1 score as the primary metric for model accuracy. Any references to AI or model accuracy are F1 scores unless otherwise specified. TermScout’s AI models are regularly retrained. As the training data set changes to include a more diverse set of contracts and legal subject matter, accuracy may vary.