Clause, a platform for smart legal contracts, and creator of the world’s first data-driven and IoT-enabled legal contract today announced it has partnered with LegalZoom, the provider of online legal solutions, to offer smart legal contracts to consumers and small businesses.
For LegalZoom, the collaboration represents an extension to their product offering; enabling users to access and use blockchain and non-blockchain computable contracting technologies. For Clause, the venture represents an extension of the technology into consumer-focused smart legal contract applications.
“LegalZoom’s North Star has always been to democratize law. Making sure every American and small business owner can access the same resources previously available only to larger corporations. This collaboration makes cutting-edge technology available to and usable by consumers and small businesses in ways previously unimaginable.”
LegalZoom will adopt the Clause technology and the Accord Project specification for representation of smart legal contracts, making documents available for editing, signing, and execution using the Clause API and platform. LegalZoom contracts will be augmented with Smart Clauses, enabling the contracts to perform blockchain-based transactions and integrate with web services such as accounting, invoicing, or payroll systems.
“This development brings together two genuine pioneers in the delivery of legal services. It will augment LegalZoom’s existing model with functionality that enables LegalZoom users to connect their existing business systems to contracts that are automatically executed when a milestone is achieved or a task completed. By teaming up with LegalZoom, the value of this technology can be brought to millions of small- and medium-sized businesses and individuals around the world.”