What does Clause do? Why would I use it?
Clause makes it easy for you to build parameterized legal contracts and to connect them to external data sources.
For example, you may have a Service Level Contract that specifies a percentage reduction in a customer's monthly bill, based on the availability of a service. The parameters for the contract are defined in a Smart Clause® Template and Clause can be used to automatically generate invoices (or move money!) based on IT monitoring events.
Clause is completely generic and can be used to automate the contractual logic behind any business relationship. It makes it easy for you to map from natural language text to executable code.
Smart Legal Contracts based on Smart Clauses solves major challenges for the legal industry, and for commerce generally. Traditional contracts are built by lawyers from natural language templates (often MS Word documents), using relatively unsophisticated find-and-replace of text. The terms in these contracts are then agreed between the contracting parties, the contract is signed, and then archived. In parallel the IT systems are built (or parameterized) to enforce or monitor the terms of the contract. The lack of integration and verification between the IT systems and contract management introduces inefficiencies and often leads to costly errors in contract compliance.
You can watch an introductory video (here).