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Four Areas of Legal Ripe for Disruption by Smart Startups

lawtechnologytoday.org

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Re: Four Areas of Legal Ripe for Disruption by Smart Startups

#71

Post by gmonahan »

joshjkim wrote: post #52
vqc wrote: post #32

I'd be interested in seeing an IDE for contract drafting. Or something like an Excel mapper that can show me how all the provisions and definitions in a contract are interrelated.

Definitely interesting, and in a few cases I have built this internally for myself before and it generally is useful (key phrase) when it can be built. I did this primarily to keep track of (1) defined terms (each place a defined term is used, and when a defined term includes another defined term), (2) section references (where any section is referred to elsewhere in the document so that if that section changes, what…

I'm intrigued by your idea of a new legal system dependent on data.

Re: Four Areas of Legal Ripe for Disruption by Smart Startups

#72

Post by joshjkim »

gmonahan wrote: post #71
joshjkim wrote: post #52

Earlier quoted context omitted.

Definitely interesting, and in a few cases I have built this internally for myself before and it generally is useful (key phrase) when it can be built. I did this primarily to keep track of (1) defined terms (each place a defined term is used, and when a defined term includes another defined term), (2) section references (where any section is referred to elsewhere in the document so that if that section changes, what…

I'm intrigued by your idea of a new legal system dependent on data.

I think an interesting place to start would be trying to break the UCC down into a numbers/data based system.

Similarly, it would be interesting to try and take a relatively conventional transaction (incorporation documents, convertible notes, Series A) and place the key economic terms in a spreadsheet, and then incorporate the other legal boilerplate (indemnification, securities exemptions, etc.) by reference to a standard T&Cs-type document - I know some incubators already do this by having the key terms as a "fill-in-the-blank field (I think AngelPad does this..). The agreement would then just be a spreadsheet-like form, with the other terms incorporated by reference.

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