With the release today of a new suite of automated business documents for small and medium-sized businesses, SixFifty is making three notable changes to its previous business model.
For one, it’s expanding into corporate and commercial documents, having previously focused its automation technology on privacy, employment, and pro bono documents. On the other hand, in addition to the subscription, it now also sells these documents à la carte. After all, his earlier documents had been drafted by attorneys from the law firm of Wilson Sonsini Goodrich & Rosatithese new documents were prepared by directly employed lawyers.
Ahead of today’s launch, Kimball Dean Parker, CEO, and Derek Parry, VP of Legal Product, showed me the new business documents.
A new marketplace
Founded in 2019 as the technology subsidiary of Wilson Sonsini, SixFifty has developed a number of products over the years aimed at enabling companies to automate their compliance with legal and data protection requirements, such as:
To date, all of SixFifty’s corporate products have been sold on a subscription basis, and all documents have been based on documents prepared by Wilson Sonsini’s attorneys.
With the release of its business documents today, SixFifty is launching a marketplace where it will sell the documents à la carte and by subscription.
Read more about SixFifty in the LawNext Legal Technology Directory.
As previously noted, these new documents were not prepared by Wilson Sonsini attorneys as in the past, but rather by attorneys employed directly by SixFifty.
“We still hold ourselves to the same quality standard – and Wilson still holds us to the same quality standard – but we no longer use Wilson attorneys,” Parker said. “We now have our own legal department.”
Set of business documents
The new corporate and commercial documents, being made available today, consist of 50 documents that include:
- Sales documents such as framework services and subscription contracts.
- Partnership documents such as recommendation and license agreements.
- Governance documents such as board minutes, consents and equity plans.
Over the next year, the corporate and trade collection will expand to 150 documents, Parker said. “We hope to expand this so that every document a company might need throughout its lifecycle is on our site.”
A la carte or subscription
Organizations can purchase and create these documents a la carte through SixFifty’s new Document Marketplace, or entirely through a SixFifty subscription.
Individual documents cost $180, $280, or $480 depending on complexity (with prices displayed on the marketplace).
An All Business Documents subscription starts at $180 per month.
“Every business needs basic legal documentation to sell products and services, partner with other organizations, and generally conduct the operations of its business,” Parry said. “Our new one business records Product provides businesses with the legal foundation they need to thrive and grow.”
SixFifty will continue to offer subscriptions to its other document groups, e.gEmployment and Privacy Issues. It also offers a free library of pro bono documents. SixFifty says it monitors updates to the law and best practices, and amends its documents to keep them current.
“SixFifty’s goal is to make the law more accessible through automation everyone world-class joint legal document,” said Kimball Dean Parker, CEO of SixFifty. “Automating the most critical corporate and commercial documents for small and medium-sized businesses is an important step toward that goal.”
If you want to see one For example from SixFifty’s Business Docs, you can download a free non-disclosure agreement from www.sixfifty.com/marketplace.