Contract generation and administration system
First Claim
Patent Images
1. A contract generation and administration system comprising:
- a single contract database comprising data obtained from multiple contract documents, said data organized into fields comprising;
draft contract status, contract identifier, contract type, effective date, and expiration date; and
a field comprising obligation type, owner, status or due date;
said system capable of generating reports based on said database, said reports obtainable through search of said fields; and
said database being selectively accessible by a plurality of users.
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Abstract
A contract generation and administration system and method are provided. The system and method include a database for storing detailed data relating to draft and finalized contracts. The database is used to track pending and executed agreements, and to track manage specific agreement obligations and obligation triggering events to ensure that each agreement obligation is met. The system is capable of managing detailed agreements and numerous obligation types including financial and non-financial obligations. The system may also be used to generate correspondence and invoices as are necessary to meet various agreement obligations.
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Citations
76 Claims
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1. A contract generation and administration system comprising:
- a single contract database comprising data obtained from multiple contract documents, said data organized into fields comprising;
draft contract status, contract identifier, contract type, effective date, and expiration date; and
a field comprising obligation type, owner, status or due date;
said system capable of generating reports based on said database, said reports obtainable through search of said fields; and
said database being selectively accessible by a plurality of users. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42)
- a single contract database comprising data obtained from multiple contract documents, said data organized into fields comprising;
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12. A contract generation and administration method comprising:
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drafting a contract or receiving a draft contract, said contract draft having one or more obligations;
storing data obtained from the draft in a single contract database comprising data obtained from multiple contract documents;
after execution of said draft, storing data obtained from the resulting contract in said database, said data organized into fields comprising;
draft contract status, contract identifier, contract type, effective date, and expiration date; and
a field comprising obligation type, status, owner or due date; and
said database capable of generating reports based on said data, said reports obtainable through search of said fields; and
said database being selectively accessible by a plurality of users; and
retrieving from said database a report of outstanding obligations.
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29. A contract generation and administration method comprising:
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drafting a contract or receiving a draft contract, said draft contract having one or more obligations;
routing the draft contract to one or more parties for review and/or execution;
storing review and/or execution data in a single contract database comprising data obtained from multiple contract documents;
storing, after execution of said draft, data obtained from the resulting contract in said database said data organized into fields comprising;
draft contract status, contract identifier, contract type, effective date, and expiration date; and
a field comprising obligation type, status, owner or due date; and
said database capable of generating reports based on said data, said reports obtainable through search of said fields, and said database being selectively accessible by a plurality of users; and
retrieving from said database a report of outstanding financial obligations.
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43. A contract generation and administration method comprising:
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drafting a contract or receiving a draft contract, said draft contract having one or more obligations;
routing the draft contract to one or more for review and/or execution;
storing review and/or execution data in a single contract database comprising data obtained from multiple contract documents;
storing, after contract execution, data obtained from the resulting contract in said database, said data organized into fields comprising;
draft contract status, contract identifier, contract type, effective date, and expiration date;
and a field comprising obligation type, status, owner or due date; and
said system capable of generating reports based on said database, said reports obtainable through search of said fields, and said database being selectively accessible by a plurality of users;
retrieving from said database a report of outstanding obligations;
analyzing said report to determine which, if any, of said obligations should be acted upon;
taking action based on said analysis; and
updating said database to reflect said action. - View Dependent Claims (44, 45, 46, 47, 48, 49, 50, 51, 52, 53)
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54. A contract generation and administration method comprising:
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drafting a contract or receiving a draft contract, said draft contract proposing to obligate a party to make one or more payments;
routing the draft contract to one or more parties for review and/or execution;
storing review and/or execution data in a single contract database comprising data obtained from multiple contract documents;
storing, after execution of said draft, data obtained from the resulting contract in said database, said data organized into fields comprising;
draft contract status, contract identifier, contract type, effective date, expiration date and payment due date; and
said database capable of generating reports based on said data, said reports obtainable through search of said fields, and said database being selectively accessible by a plurality of users;
retrieving from said database a list of payments due;
obtaining from said database an invoice or payment letter wherein said invoice or payment letter is generated automatically using said stored data; and
sending the invoice or payment letter. - View Dependent Claims (55, 56, 57, 58, 59, 60, 61)
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62. A contract generation and administration method comprising:
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drafting a contract or receiving a draft contract, said draft contract proposing to obligate a party to make one or more payments;
routing the draft contract to one or more parties for review and/or execution;
storing review and/or execution data in a single contract database comprising data obtained from multiple contract documents;
storing, after execution of said draft, data obtained from the resulting contract in said database, said data comprising payment data;
generating from said database a list of payments due;
obtaining from said database an invoice or payment letter wherein said invoice or payment letter is generated automatically using the data stored in said database;
sending the invoice or payment letter; and
updating the database to reflect that payment was made or to reflect receipt of payment. - View Dependent Claims (63, 64, 65, 66, 67, 68, 70, 71, 72, 73, 74, 75)
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69. A contract generation and administration method comprising:
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drafting a contract or receiving a draft contract, said draft contract proposing to obligate a party to make one or more payments;
routing the draft contract to one or more parties for review and/or execution;
storing review and/or execution data in a single contract database comprising data obtained from multiple contract documents;
obtaining from the database an indication as to whether the draft is being reviewed and/or executed. storing, after execution of said draft, data obtained from the resulting contract in said database, said data comprising payment triggering event data; and
generating from said database a report of payment triggering events.
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76. A contract generation and administration method comprising:
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drafting a contract or receiving a draft contract, said draft contract proposing to obligate a party to make one or more payments;
routing the draft contract to one or more parties for review and/or execution;
storing review and/or execution data in a single contract database comprising data obtained from multiple contract documents;
obtaining from the database an indication as to whether the draft is being reviewed and/or executed. storing, after execution of said draft, data obtained from the resulting contract in said database, said data comprising payment triggering event data;
generating from said database a report of payment triggering events;
analyzing the report to determine whether payment should be made;
making payment; and
updating the database to reflect that payment was made.
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Specification