Recent developments in technology have facilitated a smart contract-enabled future. The Internet of Things, distributed ledgers, the API economy, and artificial intelligence are just a few of the technologies that will power the contracts of tomorrow - and the Accord Project will be at the forefront to coordinate the collaboration required to bring out fundamental change. Without coordinated efforts to produce standards, address issues that arise from the interface between well-established legal principles and technology, the promise of smart legal contracts will not be fully achieved. The Accord Project was established as the first consortium to address the needs of industry - both legal and commercial - in establishing techno-legal standards for smart legal contracts.
The Accord Project is comprised of lawyers, technologists, business professionals to develop techno-legal standards and open source software the promote the market wide adoption of smart legal contracts and minimize development that is isolated, duplicative, and incongruous. The Accord Project aims to incubate a variety of sub-projects related to computable contracting such as markdown languages, artificial intelligence/natural language processing technologies.
The Accord Project was created by Clause and is working in collaboration with the International Association for Contract Management, Hyperledger, Clio, and others.What does the Accord Project do?
Accord Project members collaborate to produce a wide range of deliverables ranging from standards, primers, and research reports on cutting edge issues to functional technology applications.
Accord collaborates with various open source technology projects and partners to produce new open source software or to apply existing technology in new ways to various issues in smart legal contracts. For example, Accord may apply an existing open source machine learning tool to a specific supply chain contracting problem defined by attorneys.
The work of Accord is carried out primarily through its Working Groups and managed by their chairs. Working groups operate somewhat autonomously as guided by their respective chairs.How does one join the Accord Project and how much does it cost?
The Accord Project is managed primarily by its Steering Committee and Working Group Chairs. The Accord Technical Steering Committee consults and approves of various technological aspects of Accord projects. Click here for information on organizational structure and governance.Who “owns” what the Accord Project produces?
The documents produced by Accord Project are the intellectual property of the Project and made open and freely available to the public. A free license to use them is granted in perpetuity to the public. The open source software produced during Accord activities is the intellectual property of the Accord Project and subject to one or more open source licenses so that it can be freely used by the public. The Accord Project open source software policy is available here. The open source software is maintained by the Technical Steering Committee of the Accord Project.