Used when something might seem good theoretically, but may not work practically. Their new policy sounds progressive on paper, but will it actually help anyone?
Pro Tip 2/3
Skepticism
Implies that while an idea or plan looks promising, one remains unconvinced until seeing actual results. He's the ideal candidate on paper, but can he deliver those results?
Pro Tip 3/3
Not Literal
The phrase doesn't refer to physical paper, but to the concept or plan being discussed. Our team's strategy looks unbeatable on paper.