Edmonton startup Inkdit launched yesterday from the stage of the Future of Web Apps 2011 (FOWA) conference in Las Vegas.
Inkdit applies the social networking model to signing, sharing and storing contracts with contracts becoming “Connected Contracts” and your Inkdit account becoming your legal persona online.
What are Connected Contracts? According to the Inkdit website:
Social networks have created platforms that help connect us to people, companies, and beyond. When you move, change jobs, and even your marital status, social networks change with you. Legal contracts can now enjoy the flexibility that our social profiles do. Inkdit’s Connected Contracts applies social media models to our legal relationships.
As a person and as a non-person legal entity like a corporation, Inkdit gives you a legal persona online. When you sign contracts through Inkdit, your signature remains connected to your legal persona. So, in the same way that if you changed your name, moved to Tuktoyaktuk, and get a new job at a company that subsequently get's swallowed up by a bigger company you are still connected to your friends on Facebook and connections on Linkedin, so too will you remain connected to the contracts you have signed on Inkdit. Even more, the contracts you signed on behalf of the first company you worked for remain connected to that company AND contracts that you signed in your current job on behalf of the little company are now connected to the big company.
Why is this important? Executing contracts will take less time with Inkdit. Users will be able to retrieve contracts they've signed any time and place that they have an Internet connection.
Inkdit is free for individuals however organizations like corporations and governments (i.e. non-person legal entities) will pay for the service if the organization chooses to manage their legal persona on Inkdit. Pricing for these services will be available in August 2011.
Inkdit's team is an experienced group of web entrepreneurs based in Edmonton and headed by Gregg Oldring. CEO Oldring isn't new to web apps - Inkdit is his third web app after GSNet and Mailout Interactive.