On August 1, we released Contrax Suite and it is important to note that we have decided upon dual licensing (1) open source (AGPL) which is pretty hard core copyleft and (2) a more permissive license in specific circumstances. The key for us is to maintain the opensource ecosystem which requires balancing competing interests. We cannot grant the more permissive license to everyone under all conditions or it undermine the entire effort.
That said, we have a real problem with A.I. + Law. The claims are outlandish and the business model does not make sense. We think that opensource helps solve for some (perhaps not all) of the adoptions issues.
Live on Github – the LexPredict Team has open-sourced ContraxSuite 1.0, fundamentally altering the economics of the contract and legal document analytics space – now you can perpetually own a solution with a $0 license and $0 per document fees. But we’re just getting started. Stay tuned over the next few weeks as we release even more documentation and developer examples on Github.
From the article – “We are increasingly thinking that there’s room in legal tech for a Red Hat in legal — companies that really focus on development of software by providing wraparound services, but offer their software open source,” Michael J Bommarito II said.
For more information check out our announcement and the slidedeck (which has more details).
Following up on our prior announcement – here is a slidedeck offering more Product Overview, Use Case and Plan for Release.
Beyond the specific prize attached to upcoming hackathon event, we welcome anyone who (for fun) would like to take a crack at this challenge.
Email us directly (Daniel Martin Katz or Mike Bommarito) – if you would like to work on this challenge.
Our LexPredict Challenge is an opportunity to develop basic tools for processing contracts.
Specifically, you will use the sample contract data below to develop algorithms to:
(1) identify the parties to an agreement
(2) identify effective date segment and date
(3) identify termination clause segment(s) and date(s)
At LexPredict, we have built this simple (and other more complex) technology for use in commercial applications. This is an opportunity to use this challenge to produce open source content which we can be used by all (including in the Legal Analytics Course).