Contract Workflow Interface for Multi-Party Adaptability
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Solution Overview
Problem
Current smart contract platforms lack a seamless mechanism for interacting with multiple parties, leading to confusion and a lack of a unified platform for creating, modifying, and adapting contract templates across different departments and locations within an organization.
Innovation Solution
A computer-implemented method and system that updates contract workflows based on remote user actions, allowing selection of governing laws, adding conditional variables, modifying roles, and generating signed copies with signature certificates, while providing a centralized platform for managing and verifying contract documents.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If multiple platforms are used to communicate and exchange documents, then different parties can interact, but confusion arises and the system becomes complex
Solution Approach 1:
The patent merges multiple communication and document exchange functions into a single unified platform. The system integrates workflow management, document storage, conditional variable handling, and party interactions one centralized interface, eliminating the need for multiple separate platforms and reducing confusion among users.
Solution Approach 2:
The unified platform is designed to perform multiple functions: it enables interaction with multiple parties, manages document exchange, handles workflow approvals, stores contracts in directories, and provides search capabilities. This multi-functional design allows a single system to replace multiple specialized platforms.
2Adaptability or versatility
If a unified platform is implemented, then contract template reuse is improved, but the system complexity increases
Solution Approach 1:
The system stores contract templates in a centralized directory structure before they are needed. Users can search for and retrieve existing templates, or create new ones, before initiating workflows. This preliminary organization of templates enables efficient reuse while the system handles the complexity of storage and retrieval automatically.
Solution Approach 2:
The patent introduces a search function as an intermediary between users and contract templates. The search mechanism mediates access to stored templates, allowing users to find relevant templates without navigating through complex system structures manually. This intermediary layer simplifies template discovery and reuse.
3Adaptability or versatility
If conditional variables are added to contracts, then contract adaptability is improved, but the workflow complexity increases
Solution Approach 1:
The system dynamically handles conditional variables by allowing their values to be determined automatically based on workflow conditions. When a conditional variable is defined, the system can automatically acquire its value from workflow data, user inputs, or approver decisions, eliminating the need for manual configuration of every condition and reducing workflow complexity.
Solution Approach 2:
The workflow system performs self-service by automatically managing conditional variable resolution. The system determines variable values based on pre-defined conditions and workflow state, reducing the burden on users to manually configure complex conditional logic while still achieving high contract adaptability.
4Productivity
If remote user actions are processed in real-time, then operational efficiency is improved, but system response time requirements increase
Solution Approach 1:
The system implements feedback mechanisms that process remote user actions and provide immediate responses. When users perform actions like selecting governing laws, adding variables, or modifying roles, the system processes these actions and provides feedback through updated workflow states, directory listings, or confirmation messages, maintaining high operational efficiency with manageable response times.
Data Source
AI summary
A method includes updating, in a server, a workflow in a contract based on an action by a remote user. The method also includes storing an updated version of the contract in a directory, and providing, to an approver remotely coupled with the server, a link to the updated version. Updating the workflow includes at least one of: selecting a governing law or any other type of field or constraint controlling the updated version of the contract, adding a conditional variable to the contract, the conditional variable configured to acquire a value based on an input from the remote user, or the approver, adding or removing a portion of the contract based on a value of the conditional variable in the contract, and modifying a role for the approver. A system and a non-transitory, computer-readable medium storing instructions to perform the above method are also disclosed.