Law Firm Perkins Coie Teams With Accord Project On Blockchain Smart Legal Contracts

News | October 3, 2018 By:

Law firm Perkins Coie has teamed with the Accord Project to assist in the development of industry-wide standards for smart legal contracts.

Perkins Coie is an international law firm with more than 1,000 lawyers in offices across the United States and Beijing, Shanghai and Taipei. It provides a full array of corporate, commercial litigation, intellectual property and regulatory legal advice to a broad range of clients. It is one of the most prominent law firms representing businesses in the bitcoin and blockchain space.

The Accord Project is a consortium dedicated to the development of smart legal contracts using blockchain technology. Its open source technology enables the creation of legally binding agreements that can “come alive” through connections to external sources of data and software systems that enable digitized and automated contract management, performance, and related operations — the full automation of business transactions. It operates in collaboration with IBM Blockchain, R3, the International Association for Contract and Commercial Management, IEEE, the Open Identity Exchange, and many others.

As a partner in the Accord Project, Perkins Coie will be actively involved in the Accord Project’s various working groups to assist the consortium in its mission to establish open-source techno-legal standards to facilitate the widespread adoption of smart legal contracts.

“The Accord Project provides an ideal platform for us to make an impact in the development of best practices surrounding the implementation of smart legal contracts, and we’re thrilled to contribute to this important work,” said Michael Henson, a partner in Perkins Coie’s Intellectual Property practice group.

In May 2013, Perkins Coie publicly launched its Blockchain Technology & Digital Currency industry group, which is an extension of the law firm’s long history of representing FinTech, Internet, mobile and other technology companies. The industry group’s attorneys provide product counseling, regulatory investigations and compliance counseling, litigation support, consumer protection counseling and business transaction assistance.

“Perkins Coie was the first law firm to devote a practice to decentralized cryptocurrencies and shared ledger technologies in 2013, which shows our long-held commitment to deepening our engagement with industry leaders in this rapidly evolving space,” said Henson, who is also a member of the industry group.