Common Paper

We’re Jake and Ben, co-founders of Common Paper.  We just launched Gerri, the AI agent for redlines. Try it out here and get three contracts reviewed for free.

https://www.youtube.com/watch?v=QL4nIETkZnY

Problem

Common Paper started by creating standard agreements that have been signed by more than 10,000 companies and used to close more than $100 million dollars in deals. We also make contract management software for customizing, signing, and tracking agreements with customers and partners.

As companies scale, more and more of their sales teams’ time is spent dealing with contract redlines from their customers.  After talking seeing the problem close up at countless companies, we found that most folks fall into one of two camps:

• Every contract redline gets sent to their attorney, which is expensive and adds delays
• Nothing gets sent to the attorney, and the founder, sales, ops, or other non-lawyer handles all redlines. This creates a significant risk when they don’t know what they don’t know about risks in contracts

A better approach is to have AI do a first read of each contract and then triage the redlines so that as much as possible is handled automatically, and then if anything remains, assign it to the right person. That’s what we built with Gerri.

Solution

There are three ways contracts get into Gerri:

• Upload
• Forward an email with attachment
• Have Gerri scan your team’s inboxes for redlined contracts and automatically review them as they come in

Once Gerri gets a contract, it compares it to your playbook, which contains rules about what you will and won’t accept, how you respond to asks, comments to leave in the doc, etc. Gerri includes a demo playbook to help you get started, and you can chat or answer questions to have Gerri help you generate your own custom rules.

Gerri then either

• Responds with a clean contract that’s ready to send back to the other side.  Gerri automatically accepts, rejects, counter-proposes, and leaves comments for the other side.
• Flags which redlines can’t be handled automatically, and notifies the right people for them to weigh in. For example, it might be your lawyer for indemnity issues, CS lead for renewal terms, and IT for special security procedures/certifications.

Each time a human weighs in, they can make a decision for just this one case or have Gerri generate a rule to handle this decision going forward.

The end result is your contracts get reviewed before you even realize they’re in your inbox, and deals close faster.

Check out Gerri and get three contracts reviewed for free.