DocuSign to Acquire 'Smart Agreement' Firm Clause

DocuSign will use Clause's technology in its Agreement Cloud platform.

May 28, 2021 at 8:07 a.m. UTC
Updated Sep 14, 2021 at 1:03 p.m. UTC

Digital signature company DocuSign agreed to buy the intellectual property rights of Clause for an undisclosed amount. It will also hire most of the startup's team, DocuSign said in a press release on Thursday.

The San Francisco-based company said it is looking to bring contracts signed online "to life" through the use of Clause's "smart agreements" (SA).

SAs, like smart contracts, deploy computer code to execute tasks automatically, helping to increase efficiency and lower costs. They also possess the ability to integrate with blockchain systems, according to the Clause's FAQ.

New York-based Clause's technology will be used within DocuSign's Agreement Cloud platform. It can help catch erroneous data, such as bank account details, in a contract or agreement and prevent the contract from being signed.

"It is a document that is capable of being contractually binding, comprised of natural language text and executable code, that can perform actions on external systems or using external data," Clause founder Peter Hunn told CoinDesk via email.

The acquisition forms part of a close working relationship between the two companies, with DocuSign having participated in Clause's $5.5 million Series A funding in 2019.

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Justin Sun Still Thinks Algorithmic Stablecoins Are a Good Idea

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

CoinDesk - Unknown
2
CoinDesk - Unknown
Former BitMEX CEO Arthur Hayes Sentenced to 2 Years Probation

Hayes pleaded guilty to one count of violating the Bank Secrecy Act (BSA) in February, and faced a sentence of up to 12 months in prison.

Hayes pleaded guilty to one count of violating the Bank Secrecy Act (BSA) in February, and faced a sentence of up to 12 months in prison.

CoinDesk - Unknown
3
CoinDesk - Unknown
Market Wrap: Cryptos Decline Amid Choppy Trading, DeFi Tokens Underperform

Aversion to risk remains as volatility returns to stocks and cryptos.

Aversion to risk remains as volatility returns to stocks and cryptos.

CoinDesk - Unknown
4
CoinDesk - Unknown
Travis Kling on Why a Decentralized Web 3 Is Worth Fighting For

Plus more about Ikigai's new Web 3 venture fund.

Plus more about Ikigai's new Web 3 venture fund.

CoinDesk - Unknown