Papers can be exported as a .dwg or a .dxf file, which can then be opened in any program capable of reading that file type. 

In Paper View, go to the Export section in the the Tools (paper) component tab and click the Export to dwg/dxf tool. In the next step, you will be able to choose if you want to export all active papers or only the current paper.

Once your Papers are in AutoCAD, all components are one object, but it can be exploded and individual lines are then editable. Text can be edited as well.