Introducing Arity

By:

Brent Farese

,

February 11, 2020

Category:

T

he legal contract process is broken. Collectively, we need to declare bankruptcy on the current state of the world for managing contracts and start fresh. Wave the proverbial white flag.

A lawyer giving up after trying to figure out what Word document in a contract negotiation is the most up-to-date.

We have all been there, drafting a precisely-framed legal document using Microsoft Word and then proceeding to exchange countless drafts through email with no insight into any data in our contract, no software-driven framework for negotiating and managing legal risk in the contract, and no strong tools for collaborating with stakeholders inside and across business lines. There has to be something better.

A new paradigm

At Arity, we believe a new model is needed to take contracts firmly into the digital era. Most importantly, we have to build software that embraces:

  1. Contracts are highly-collaborative documents. Frequently, many stakeholders are involved in negotiating, executing, and carrying out a contract. Internal business professionals assessing economic terms, legal professionals advising the business and minimizing legal risk, customers determining the economic and legal impact of a contract's terms, and everyone tasked with understanding and carrying out the contract after signing.
  2. Contracts are data-rich documents. But, existing mechanisms fall short in providing valuable data-driven insights into a business's contracts.
  3. Contracts need to "talk to other systems". It's not enough to extract meaningful data from a contract. That data needs to be consumable by other systems in a meaningful way. Contracts also need to be able to ingest and consume data from the same systems. It is a two-way street.
  4. Reusable contract templates should be shared with the community. Re-creating the same template or clause again and again is a waste of time. As a community, we can contribute to a growing body of legal knowledge that's universally valuable.

Arity, a next-generation contract software platform 🚀

When starting Arity, we took the principles outlined above to heart in designing our software. The first thing we tackled was the age-old word processor. How boring you say? 🤦

The thing is, the word processor is where attorneys create. It's where we live 24/7. Understanding that, and given how inadequate existing word processors are for the task of truly digital contracts, we built Arity's product to include a web-native editor purpose built for legal contracts.

Arity's software links contract stakeholders together in a seamless, collaborative web. Everyone has visibility into their contracts in a way never possible before.

Our new editor allows any contract drafter, with no training, to easily create the most complex contract templates and clauses, define a data model underpinning each template and clause, and collaborate with anyone involved in a contract within the document itself. The contract data model is exportable into other systems, and is amenable to parsing and manipulation in any programming language. And, the editor includes everything a contract drafter has come to expect from their favorite word processor.

Get early access

We're excited by what we are building. If you are too, head over to our sign-up form and get early access to Arity. We're letting a select few kick the tires on Arity's platform while we prepare for our public launch later this year.

About Arity

Arity is a technology company based in New York, New York building next-generation contract software. Arity's web-native editor makes composing contract templates, clauses, and workflows simple for legal teams, allowing all stakeholders in the contract process to collaborate, in a data-rich way, like never before. Learn more about Arity on its homepage.

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Feb 11, 2020
Arity Engineering