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Open Sourcing ContraxSuite and Legal Tech and the Modern Information Economy

News release – July 3, 2017: “Over the last decade, we’ve spent many thousands of effort-­‐hours developing the contract analytics and document analytics tools that we use with clients. These tools, based on enterprise-­‐ quality open source frameworks for natural language processing, machine learning, and optical character recognition, have allowed us to quickly and easily attack many problems, from securities filings and court opinions to articles of incorporation and lease agreements. Today, we are proud to announce that we plan to open source the development of our core platform for contract analytics and document analytics -­‐ ContraxSuite. Starting on August 1 [2017], this code base and our public development roadmap will be hosted on Github under a permissive open-­‐source licensing model that will allow most organizations to quickly and freely implement and customize their own contract and document analytics. Like Redhat does for Linux, we will provide support, customization, and data services to “cover the last mile” for those organizations who need it. We believe that a very important future for law lies in its central role in facilitating and regulating the modern information economy. But unless we start treating law itself like the production of information, we’ll never get there. Before we can solve big problems with smart contracts, we need to start by structuring existing legacy contracts. We hope our actions today will help lawyers, companies, and other LegalTech providers accelerate the pace of improvement and innovation through more open collaboration…”

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