With its release today of a new line of automated business documents for small- and medium-sized businesses, SixFifty is making three notable changes to what has been its business model to date.
For one, it is expanding into corporate and commercial documents after previously focusing its automation technology on privacy, employment and pro bono documents. For another, it is now selling these documents à la carte in addition to by subscription. Lastly, while its previous documents had been drafted by lawyers at the law firm Wilson Sonsini Goodrich & Rosati, these new documents have been drafted by lawyers it employs directly.
In advance of today’s launch, Kimball Dean Parker, CEO, and Derek Parry, vice president of legal product, gave me a demonstration of the new business documents.
A New Marketplace
Launched in 2019 as Wilson Sonsini’s technology subsidiary, SixFifty has produced a series of products over the years designed to enable companies to automate their compliance with legal and privacy requirements, such as its recent release of a product to automate compliance with state data privacy laws (and other products mentioned in that post).
Until now, all of SixFifty’s products for businesses were sold on a subscription basis and all the documents were based on ones created by lawyers at Wilson Sonsini.
With today’s release of its line of business documents, SixFifty is launching a marketplace where it is selling the documents à la carte in addition to by subscription.
Read about SixFifty in the LawNext Legal Technology Directory.
As noted, these new documents were not created by Wilson Sonsini attorneys, as in the past, but by attorneys directly employed by SixFifty.
“We still hold ourselves to the same quality standard — and Wilson still holds us to the same quality standard — but we don’t use Wilson attorneys anymore,” Parker said. “We have now an in house attorney unit.”
Range of Business Documents
The new corporate and commercial documents being made available today include 50 documents that span:
- Website documents, such as terms of service and privacy policies.
- Sales documents, such as master services and subscription agreements.
- Partnership documents, such as referral and licensing agreements.
- Governance documents, such as board minutes, consents, and equity plans.
Over the next year, the corporate and commercial collection will expand to 150 documents, Parker said. “We’re hoping to expand that out so that every document a company could need throughout its life can be found on our site.”
A La Carte or Subscription
Businesses will be able to purchase and create these documents à la carte through SixFifty’s new Document Marketplace or in their entirety through a SixFifty subscription.
Individual documents cost $180, $280 or $480, depending on their complexity (with prices shown in the marketplace).
A subscription to the full set of business documents will start at $180 per month.
“Every business needs basic legal paperwork to help them sell products and services, partner with other organizations, and generally run the operations of their company,” said Parry. “Our new Business Docs product provides companies with the legal foundation they need to thrive and grow.”
SixFifty will continue to offer subscriptions to its other groups of documents that cover employment and privacy issues. It also offers a library of pro bono documents available at no charge. SixFifty says it monitors updates to the law and best practices and modifies its documents to keep them current.
“SixFifty’s goal is to make the law more accessible by automating every common legal document at a world-class level,” said Kimball Dean Parker, CEO of SixFifty. “Automating the major corporate and commercial documents for small and medium-size businesses is a major step toward that goal.”
If you want to see a sample from SixFifty’s Business Docs, you can download a free non-disclosure agreement at www.sixfifty.com/marketplace.