What is 'Compare to Market'?

Compare to Market reviews a document and tells you if any terms within the document is above, at, or below the market standard based on the document type and jurisdiction.

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How to Use 'Compare to Market'

1. Click on the '>' key to open up a menu of more features.

2. Click "Compare to Market"

3. Select the party you're representing

4. Select your jurisdiction.

5. (Optional) Add Deal Context.
To learn more about Deal Context, check out the article here.

6. Click "Start"

7. When analysis is completed, the statistics will give you a breakdown of terms that are above, at, or below market standards.

8. You can go through each term below for more information.

9. You can click "show" to jump to the portion of the document where its extracting that information from.

10. You can click "Export" to create a report of the "Compare to Market" results.

11. Example of the report below.

Frequently Asked Questions

Where does Spellbook’s data come from?

Spellbook extracts high-level statistical insights from contracts processed daily — for example, “average payment terms in software agreements”. It is always aggregated & anonymous – we never surface individual contract data. Statistics are shared back with users in a summarized form. No names, addresses, IDs, or other personal info is collected.

How does it work?

When someone opens a document in Spellbook, it will capture high-level document data (e.g., “this NDA is mutual”). Spellbook then aggregates this across thousands of documents to produce aggregate insights like: “X% of NDAs have mutual structure”.

Market insights are only displayed to users if there’s a threshold of similar documents, ensuring complete anonymity.

What if we need zero data retention for security approval?

Zero Data Retention is respected at the LLM level. Spellbook does not share any client-identifiable information used to improve market insights. All data is fully anonymized and aggregated before being presented as a statistical market insight. We temporarily access document text to provide features, but never attach client-specific data to the aggregated market data.

Resources:

Can I opt out of this data collection?

Yes! When you opt out of market data collection, we immediately stop capturing statistical insights from your documents when you use Spellbook. But you also lose access to this feature. We employ a give-to-get model to deliver the best experience for all of our users. You can opt back in any time.