SYSTEM AND METHOD FOR CREATING AND EXECUTING DATA-DRIVEN LEGAL CONTRACTS
First Claim
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1. A method comprising:
- providing a contract management system;
through the contract management system, constructing a data-driven contract with a set of programmable clauses which comprises at least;
receiving specification of a programmable clause that comprises configuring programmable logic and mapping at least one integration to the programmable clause, andadding at least one clause with natural language content, andexecuting the data-driven contract.
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Abstract
A system and method that includes providing a contract management platform; constructing a data-driven contract with a set of programmable clauses by: receiving specification of a programmable clause, configuring programmable logic of the programmable clauses, mapping a set of integrations to the programmable clause, wherein at least one integration is a blockchain/distributed ledger integration, and adding at least one clause with natural language content; and executing the data-driven contract.
292 Citations
24 Claims
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1. A method comprising:
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providing a contract management system; through the contract management system, constructing a data-driven contract with a set of programmable clauses which comprises at least; receiving specification of a programmable clause that comprises configuring programmable logic and mapping at least one integration to the programmable clause, and adding at least one clause with natural language content, and executing the data-driven contract. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. A method comprising:
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providing a contract management system; at the contract management system, constructing a data-driven contract that comprises a set of programmable clauses, wherein constructing the data-driven contract comprises at least; configuring programmable logic and natural language content of the set of programmable clauses, mapping a first external integration of a network-connected device to a first programmable clause of the data-driven contract, mapping a second external integration of an API-based platform to a second programmable clause of the data-driven contract, mapping a distributed ledger integration to a third programmable clause of the data-driven contract, mapping an internal integration between a fourth programmable clause and a fifth programmable clauses, configuring at least one natural language clause in the data-driven contract, the natural language clause comprising natural language content; and accepting execution authorization by at least two parties and applying an electronic signature of the two parties to the data-driven contract; after accepting execution authorization, executing the data-driven contract, which comprises; receiving device data through the first external integration and processing programmable logic of the first programmable clause based on the device data, transmitting a communication to the API-based platform through the second external integration in response to processing programmable logic of the second programmable clause, processing the third programmable clause and interacting with a distributed ledger system through the distributed ledger integration, and updating the fifth programmable clause in response to processing programmable logic of the fourth programmable clause. - View Dependent Claims (15)
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16. A system comprising:
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a contract management system; a data-driven contract created and managed within the contract management system, the data-driven contract comprising a set of programmable clauses, wherein a programmable clause comprises natural language content, programmable logic, and at least one integration; wherein at least a subset of the set of programmable clauses comprises an integration with a distributed ledger; and a processing engine that executes the data-driven contract and facilitates interactions between a programmable clause and a resource. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23, 24)
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Specification