Method and system for automatically producing loan documents
US6366892B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Apr 5, 2000 |
| Grant date | Apr 2, 2002 |
| Priority date | — |
| Expiry date | Apr 5, 2020 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q10/10
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for automating legal documents particularly for institutional and commercial loans includes the steps of providing in a database a plurality of provisions, including a plurality of standard clauses for each provision, and at least one optional clause associated with each standard clause, and a lender ranking value for each optional clause; selecting either the standard clause or the associated optional clause for each provision; allocating a borrower ranking value to each selected optional clause; comparing the associated lender ranking value to the borrower ranking value for each selected optional clause for determining which of the standard clauses will be retained and which of the selected optional clauses associated with the standard clause will be accepted to replace the standard clause; and generating a loan document having each of the accepted selected optional clauses and each of the retained standard clauses.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.