Computable Contracts by Extracting Obligation Logic Graphs

Sergio Servantez, Milan Aggarwal, Nedim Lipka, Balaji Krishnamurthy, Alexa Siu, Aparna Garimella, Kristian Hammond, Rajiv Jain

Research output: Chapter in Book/Report/Conference proceedingConference contribution

1 Scopus citations

Abstract

The emergence of contract specific programming languages has struggled to translate into widespread adoption of computable contracts due largely to high conversion costs. In this work, we present the first system for converting natural language contracts into code through the extraction of key entities, relationships, and formulas into a graph representation called the Obligation Logic Graph (OLG). This approach allows the semantic meaning of contract obligations, including dependencies between obligations, to be captured through the OLG and mapped to code downstream. We also introduce OLG extraction as a new joint entity and relation prediction task for legal contracts, and present the Contract-OLG dataset, consisting of 1,876 contract provisions, 18,597 entities and 18,170 relationships. We perform detailed experiments to understand the capabilities of state-of-the-art Transformer and graph-based models at completing these tasks, and identify where there is currently a significant gap between human expert and machine performance, particularly for relation extraction.

Original languageEnglish (US)
Title of host publication19th International Conference on Artificial Intelligence and Law, ICAIL 2023 - Proceedings of the Conference
PublisherAssociation for Computing Machinery, Inc
Pages267-276
Number of pages10
ISBN (Electronic)9798400701979
DOIs
StatePublished - Jun 19 2023
Event19th International Conference on Artificial Intelligence and Law, ICAIL 2023 - Braga, Portugal
Duration: Jun 19 2023Jun 23 2023

Publication series

Name19th International Conference on Artificial Intelligence and Law, ICAIL 2023 - Proceedings of the Conference

Conference

Conference19th International Conference on Artificial Intelligence and Law, ICAIL 2023
Country/TerritoryPortugal
CityBraga
Period6/19/236/23/23

Keywords

  • computable contracts
  • information extraction
  • natural language processing
  • obligation logic graph

ASJC Scopus subject areas

  • Artificial Intelligence
  • Software
  • Law

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