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	<title>Matador Legal &#187; Term Sheet</title>
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		<title>What is the term sheet generator announced by Wilson Sonsini</title>
		<link>http://matadorlegal.com/index.php/2009/05/07/what-is-the-term-sheet-generator-announced-by-wilson-sonsini/</link>
		<comments>http://matadorlegal.com/index.php/2009/05/07/what-is-the-term-sheet-generator-announced-by-wilson-sonsini/#comments</comments>
		<pubDate>Wed, 06 May 2009 20:55:35 +0000</pubDate>
		<dc:creator>Matador Legal</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Term Sheet]]></category>
		<category><![CDATA[Unstructured data]]></category>

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		<description><![CDATA[Wilson Sonsini Goodrich &#38; Rosati , announced a new product, a term sheet genearator to serve the need of start up community.  Wikipedia defines a Term Sheet as a bullet-point document outlining the material terms and conditions of a business agreement. After a Term Sheet has been &#8220;executed&#8221;, it guides legal counsel in the preparation [...]]]></description>
			<content:encoded><![CDATA[<p style="text-align: justify;"><a href="http://www.wsgr.com/WSGR/Index.aspx" target="_blank">Wilson Sonsini Goodrich &amp; Rosati</a> , announced a new product, a term sheet genearator to serve the need of start up community.  Wikipedia defines a<a href="http://en.wikipedia.org/wiki/Term_sheet" target="_blank"> Term Sheet</a> as a bullet-point document outlining the material terms and conditions of a business agreement. After a Term Sheet has been &#8220;executed&#8221;, it guides legal counsel in the preparation of a proposed &#8220;final agreement&#8221;. It then guides, but is not necessarily binding, as the signatories negotiate, usually with legal counsel, the final terms of their agreement.</p>
<p style="text-align: justify;">Essentially , WSGR has automated the whole process by asking a series of multiple choice questions. This software application is powered by <a href="http://www.business-integrity.com/" target="_blank">Deal Builder </a>, which has products which automate contract and NDA drafting process. The term sheet generator is another step in the application of technology in the in the legal space, where a lot of products are trying to solve the problem of organising unstructured data. Again, wikipedia defines <a href="http://en.wikipedia.org/wiki/Unstructured_data" target="_blank">Unstructured Data </a>as  computerized information that either does not have a data model or has one that is not easily usable by a computer program. The term distinguishes such information from data stored in fielded form in databases or annotated (semantically tagged) in documents.</p>
<p style="text-align: justify;">The problem of unstructured data is not limited to the legal field but can be found in almost all the industries leke finance and medicine.</p>
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