AI Termsheet Generator: Under the Hood
AI is making what makes you special, even more special.
Now that you have experienced our termsheet drafting assistant (if you have), lets get under the hood to understand what it means for your work.
First, I ll address the main issue.
Every team treasures its templates, i.e the base draft off which the drafting exercise should proceed. We have used one. But for it to be useful to your team, you need to use yours.
When does it depart from your (or our) template?
Based on how the drafter has answered the questions.
In your workflow, your commercial or client touch points and issues that must be addressed before a first draft may be different. These should inform how the questions are structured. So it might be the case that for it to be useful for your team, the workflow needs alteration.
In addition to making selections, the drafter may have typed instructions for edge cases in natural language or modified the term sheet after it is generated.
This is a handy feature many of you missed using, which we made more prominent today.
After you have generated a draft, you can Request Changes - broad brush or specific instructions that only modify or edit the term sheet to that extent.
Once the draft is completed, it should be downloadable as a docx following the formatting rules of your team, easy to share and edit further.
Why is this awesome?
- Every team needs one.
- Your proprietory knowledge shines.
- Standardisation of format.
- Consistency with your drafting style.
- No errors, embarrassing mistakes.
- Transparency in steps taken to draft.
Apart from cost and time saved, opportunities to onboard new clients, upfront value creation.
TLDR - If you haven't tried it, you can still do so at termsheet.scripters.app.
If you want to build one, write to me with your thoughts.