Click here to see a demonstration of a simplified "AI and
the Law: Data Contract": https://lnkd.in/gRNDBk2 and the Companion
Software Application. This demo shows how we can access contract
information stored as fields of data on the Microsoft Azure cloud.
(I use a credit agreement as an example, but the same principles
work for any contract.) With the increased focus on digitization of
contracts in financial services, healthcare, shipping, energy,
entertainment, and other industries, efforts are underway to create
a new form of contract in a data format (a "Data
Contract") – the next step in the evolution of
contracts. The essence of the Data Contract is that the terms of
the contract are stored in a database at both the Clause Level and
the Idea Level. This gives the parties complete control over the
information in the contract for purposes of origination, amendment,
reporting, compliance, and other operational issues, as well as
transfer, securitization, and other
