Dec 1, 2020
Episode 23 of the Legal Tech StartUp Focus Podcast — Interview with David Chan, Co-Founder and CEO of Intellext
This is episode 23 of the Legal Tech StartUp Focus Podcast (www.legaltechstartupfocus.com/podcast) where your host, Charlie Uniman, interviews David Chan, Co-Founder and CEO of Intellext (www.intellext.ai), a platform that offers tools for enhancing the efficiency of, collaborating on, and bringing actionable insights into the process of negotiating term sheets.
As with many legal tech startup founders, David explains how his years of experiencing the pain of dealing with the contracting process; in David’s case as a business person who negotiated the principal terms of contracts (before turning matters over to lawyers) led him, with his co-founders, to try to mend the broken process of term sheet negotiation. David goes on to describe Intellext’s approach to (i) using templates, (ii) providing what David describes as “smart highlighting” to capture the principal terms of an enterprise’s full-length contracts, (iii) integrating with Microsoft Word and email programs and (iv) using machine learning — all with the aim of getting to a negotiated term sheet more quickly, with greater adherence to enterprise negotiation guidelines and better and more consistent negotiation outcomes.
Charlie and David next cover (i) Intellext’s success in negotiating funding rounds, despite the constraints imposed by the COVID pandemic, (ii) David’s thoughts on startup pivots and his own encounters with pivoting at Intellext and (iii) Intellext’s broadening the reach of its platform to find customers in verticals adjacent to legal tech (such as fintech and proptech)