Intellext Announces Open Source Initiative, ContractIX, at WorldCC Americas Summit 2023

September 29, 2023 07:54 PM AEST | By EIN Presswire

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SAN FRANCISCO, CA, USA, September 29, 2023 /EINPresswire.com/ -- Intellext, a leading innovator in AI-driven contract negotiations, is excited to announce its groundbreaking open source initiative, ContractIX, at the upcoming World Commerce & Contracting Americas Summit 2023. This initiative unveils the Unified Contracts Framework (UCF), designed to work in conjunction with the international market standard WorldCC Contract Principles.

David Chan, CEO of Intellext, shared, "The world of contracts has long been dominated by intricate legal jargon. Our goal with ContractIX and the UCF is to bridge the gap, ensuring that contracts are not just legally sound but become operational guides by being clear and comprehensible to everyone involved."

Sally Guyer, CEO of WorldCC, underscored the broader significance of this collaboration, stating, "AI is poised to revolutionize the way we negotiate contracts. Intellext's focus on simplifying contract language through ContractIX represents a game-changing development, particularly for the majority of individuals within corporations and businesses who engage with contracts but lack legal expertise."

The collaboration between Intellext's UCF and the WorldCC Principles promises:

● Standardization across contract creation and negotiation, reducing cycle times and improving balance in terms.
● Enhanced clarity and accessibility, aiding both pre and post-signature phases.
● Significant improvements in efficiency and risk mitigation.
● A push towards the democratization of contracting, ensuring even smaller organizations benefit from best practices.

By demystifying contract language and providing an open-source framework, Intellext empowers all stakeholders in the contract lifecycle. This democratization ensures that all parties, regardless of their expertise, can actively participate, understand, and benefit from clear agreements.

Intellext invites all attendees of the WCC Americas Summit 2023 to join them in their mission to revolutionize the world of contracts, making them more user-friendly and beneficial for all.

For more information about Intellext, ContractIX, and its innovative solutions, visit Intellext.ai and www.worldcc.com/americassummit.

About World Commerce and Contracting

World Commerce & Contracting (WorldCC) is the world's leading authority on contract and commercial management. With over 70,000 members across 180 countries, including many of the world's largest corporations and government agencies, WorldCC provides research, benchmarking, and networking opportunities to professionals who manage commercial contracts.

About Intellext

Intellext is at the vanguard of contract negotiations, championing the transformation of Legalese into plain English. With a vision to make contracts accessible to all, Intellext is redefining the future of intelligent contract negotiations through initiatives like ContractIX.

Alex Tran
Intellext Global
[email protected]
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