Contract Standards develops and shares
Our mission is to openly share contract standards--transaction analysis, checklists, and clause libraries--in an effort to establish global contract norms. It is hoped readers will share their knowledge through comments, practice guidance and other contributions. Contract Standards is a work in progress with new materials added daily.
The site is developed and maintained by KMStandards LLC, a software company that offers premium technology and services to analyze both public and private document collections, create standard forms and provide contract benchmarking. To learn more, visit www.kmstandards.com.KMS marries technology with process and substance. The software determines how the agreements are organized, what clauses they contain, and the full range of standard and deal-specific language. The analysis is used to create contract standards (www.contractstandards.com) and power applications that can compare and benchmark any agreement to a selected standard (www.kmstandards.com). This benchmark identifies which clauses match (and the degree of similarity), which clauses are divergent, and which clauses may be missing. To learn more, watch Kingsley Martin presentation at Stanford Law School's CodeX conference.
The material on this web site is drawn from public sources, analyzed by kiiac software, and editorially reviewed. The technology can analyze any set of agreements and automatically determine what clauses the agreement contains, how those clauses are organized, and the range of standard and non-standard language used in each clause. The software generates an outline or checklist of the standard deal terms and all deal-specific variations. It also creates a clause library for each deal term, identifies the core, non-negotiated language and the full range of alternatives. Editorial review is performed to remove personal information and to further simplify contract language.
The site is divided into three main sections: (a) contract standards; (b) contract automation; and (c) discussion. The contract standards section includes a list of all major agreement types, a comprehensive framework for organizing bi-lateral agreements, a clause library of common terms, and featuring one clause per day. The contract automation section contains document automation tools and end-user guides. Finally, a discussion section provides an environment for participants to contribute to the development of contract standards and guide the development of the document automation and analysis software.