Conversion of Legal Agreements into Smart Legal Contracts using NLP
Creating smart legal contracts currently requires teams of lawyers and programmers working together for months. This research introduces an automated pipeline using advanced Natural Language Processing (NLP) models to convert traditional legal documents into executable Smart Legal Contracts through the Accord Project framework.
The system achieves 80% accuracy in detecting legal components and successfully extracts one-third of Concerto variables automatically, complete with a user-friendly web interface that democratises smart contract creation.
