ContracT – from Legal Contracts to Formal Specifications: Preliminary Results

We are interested in semi-automating the process of generating a formal specification from a legal contract in natural language text form. Towards this end, we present a tool, named ContracT, that annotates legal contract text using an ontology for legal contracts. In the last part of the paper, we present results from a preliminary empirical evaluation of the tool that provided encouraging results in identifying contract concepts in text and discuss critical points to be tackled in future studies.