TermScout vs SpeedLegal Detailed comparison features, price

TermScout

TermScout is a pioneering contract analysis platform that combines AI technology with the world's largest database of anonymized and aggregated negotiated contracts. The platform provides instant AI-powered contract reviews backed by comprehensive market data, enabling businesses to make informed decisions quickly and efficiently.

The platform features three core components: Contract Market Data for exploring thousands of contract clauses, AI Contract Reviews for rapid analysis, and Contract Certification (Certify™) for third-party validation. With a minimum AI accuracy of 85% and the option to achieve 99% through verification, TermScout is trusted by thousands of companies and law firms worldwide, processing over twenty thousand contract reviews monthly.

SpeedLegal

SpeedLegal is a contract review platform that utilizes AI to accelerate and enhance the contract analysis process. It helps users identify risks, understand complex legal terms, and provides custom suggestions based on the specific contract type and user-defined standards.

The platform offers features such as automated contract summaries, risk analysis, and the capability to ask AI questions. It's applied and usable to the Common Law legal system, covering contracts in the USA, Europe, and Latin America.

TermScout

Pricing

Freemium

From 129$

SpeedLegal

Pricing

Paid

From 252$

TermScout

Features

AI Contract Reviews: Instant analysis with 85%+ accuracy
Contract Market Database: Access to thousands of anonymized contracts
Certify™: Third-party contract validation system
Contract Benchmarking: Clause-by-clause comparison with competitors
Term Sheets: Automated contract summary generation
Rare Clause Radar: Identification of unusual contract terms

SpeedLegal

Features

Red Flag Analyzer: Find hidden risks in your contracts and prevent unfavorable terms.
Personalized Suggestions: Receive tailored suggestions based on your specific contract needs and standard set by you.
Ask our AI: Get quick answers to your contract-related questions.
Automated contract summary: Understand complicated contracts with short and simple summaries.
Set your own contract standards: Customize your contract standards to match your business goals.

TermScout

Use cases

Accelerating B2B sales contract negotiations
Validating vendor terms and conditions
Analyzing competitor contract terms
Streamlining legal review processes
Creating standardized contract playbooks
Benchmarking contract terms against industry standards

SpeedLegal

Use cases

Reviewing and understanding various contract types (e.g., MSAs, NDAs, employment agreements).
Identifying potential risks and unfavorable terms within contracts.
Getting quick clarifications on specific clauses or legal jargon.
Creating concise summaries of complex contracts.
Setting and maintaining consistent contract standards across an organization.

TermScout

FAQs

How long does an AI contract review take?

The average AI review takes 5-7 minutes, with a maximum of 10 minutes depending on the document's length and complexity.

Can I add additional Scout Seats?

Yes, each additional Scout seat costs $49 per month.

Can I cancel any time?

Yes, monthly subscribers can cancel their subscription at any time with a hassle-free cancellation process.

SpeedLegal

FAQs

What is SpeedLegal?

SpeedLegal is a technological startup that uses Machine Learning technology (specifically Deep Learning, LLMs and genAI) to highlight the terms and the key risks of any contract. We analyze your documents and send you a simplified report so you can make a more informed decision before signing your name on the dotted line.

Is my contract reviewed by a real lawyer?

Yes, for Startup, Growth, and Enterprise users.SpeedLegal uses Deep Learning models (AI) to highlight the key provisions and identify the main risks of a contract. We also offer an additional human check on top of the AI models to give our users more assurance. The human check is currently free (during Beta).

How are market standards created at SpeedLegal?

SpeedLegal creates its own Market Standards by analyzing tens of thousands of high-quality contracts and over 1 billion data points to cluster millions of targeted data points. Additionally, we consult with our Committee of Industry experts to fine-tune our standards, taking into account factors such as jurisdictions, contract types, parties involved, and key clauses. We recognize that data biases may exist, so we double-check our Market Standards with legal experts from top law firms and enterprise organizations to avoid any one-sidedness or unwanted biases.

Is SpeedLegal.io website secure?

We care about your contracts so we use the highest level of security to store and protect your contracts. Among our security protocols: Encryption SSL Certificate - SHA-256 With RSA Encryption, Firewall - Virtual Private Security groups. We encrypt our user credentials on signup and ensure they are logged in through a secure channel.

Do you provide legal advice?

At SpeedLegal, we do not provide legal advice. Instead, we serve as a contract reading facilitator and provide statistical inferences to support your decision-making processes. As an Alternative Legal Service Provider (ALSP), our focus is on offering innovative solutions for contract management and contract augmentation, similar to companies in this segment. Our primary goal is to enhance efficiency and streamline your contract negotiation process while working in collaboration with your legal team. Please check our disclaimer.