Friday, August 03, 2007

Let's kill all the lawyers: web-based negotiation platform seeks to revolutionize the creation of contracts

Tractis provides a new web-based platform for contract negotiationNegonation, a Spanish start-up, has launched Tractis, a web-based platform to revolutionize the negotiation, management, and execution of contracts in e-commerce.

But it's not just about helping business get done. Negonation's goal for Tractis is far more ambitious:
Our goal is to provide a way to make online borderless justice possible. Yeah, you heard us right. We want to develop a new legal system that overcomes the inefficiencies, complexities, injustices and sluggishness of traditional legal systems. We want justice for, from and by the Internet nation. Tractis is only the beginning.
Tractis is designed to manage what Negonation's founders call "the whole life cycle of contracts". Users can select from a library of templates to create a contract, invite others to participate, and develop a single text to produce contracts guaranteed to be legally binding. Prior versions of contracts, comments, and attachments are archived and readily accessible. Negonation plans to add an online dispute resolution mechanism for addressing the inevitable disagreements that can arise from contract negotiations.

You can take an online tour of Tractis to gain a sense of its interface or review its FAQs.

O brave new world...

(Hat tip to Law.com Inside Opinions.)