On the Trust Network, a company manages data about its partners (customers, employees and suppliers) with an information ecosystem. Certainty about the reliability of the identity of partners and their representatives is essential for effective business. Data in the information ecosystem can also be considered a trade secret (within the Trade Secrets Protection Act (Wbb)). MYOBI arranges an electronic signature on the Trust Network, ensures secure processes, certifies parties’ contracts and other documents and deposits them. This service is necessary to enter into obligations and make agreements about rights to be acquired. Smart contracting uses the Trust Network and effectively allows the company to organise the legal operation. In addition, we manage (company-specific) contract portfolios and libraries.

The strength of organising the legal operation using smart contracting on the Trust Network is the coherence of resources aimed at effectively managing corporate activities. In addition, the targeted sharing of knowledge and experience in the knowledge bases, webinars, awareness and training programs and professional support provide the preconditions for successful implementation and expansion of the legal operation.

There are alternatives for certain parts. For example, a contract set composed by a lawyer or an electronic signature mechanism, such as ‘Docusign’, in which the tool is central.

No, we advise and still conduct investigations. A (potential) customer doesn’t need to use a Trust Network or smart contracting.

To effectively organise a legal operation with business processes, supporting IT and management by employees, we have created the functional specifications for the Trust Network and smart contracting, managed the contract library, and handled knowledge and change management. If desired, companies can call our professionals for help.

The Contract Board manages the TTP policy of the Trust Network. We can briefly describe the TTP policy as the rules of the game or the system of agreements for the users of the Trust Network. Within the framework of the TTP policy, MYOBI manages the trust services. For example, we can think of the mechanism of authenticating the identities of companies and authorised representatives, electronic signatures, secure business processes, and the authentication and deposit of documents.

The Contract Board bases itself on the TTP policy when building and managing contract portfolios.

Seeing contract portfolios separately from the TTP policy, i.e., separating them from the rules of the game of the Trust Network, requires additions of the functionalities that the Trust Network does not provide.

So, in principle, yes, we can see the portfolios separately, but the effectiveness of the legal operation decreases sharply. So operationally and pragmatically, no, we find it difficult to separate the portfolios from the TTP policy.