Website Alert - Tractis
This Web service allows companies and individuals to create, negotiate, execute and manage business contracts, and thus manage the whole life-cycle of contracts online. With Tractis, you can digitally sign contracts that are guaranteed to be legally binding. It doesn’t matter where the other parties are, their language, operating system, browser or the digital signature they use. Their template library has a number of templates of contracts that can be moulded to your needs.
To deal with the problem of online identities, Tractis plans to offer insurance that will reimburse customers and help enforce contracts when there’s a dispute. Based out of Spain, Tractis plans to expand throughout Europe and South America - mainly countries where governments are issuing ID cards with digital signatures.
Blanco and his co-founders, Manuel Santos and Diego Lafuente, think the opportunity is huge. Blanco expects Tractis to be pulling down $90 million in revenue and $40 million in profit by 2012 - in part by stimulating the entire market for goods and services on the Internet. “There’s definitely a lot of room left to move commerce from offline to online, once we solve the identity problem,” he says.
Related reads:
Online contracts with the force of law
Filed under: Ideas & Innovations, Website Alert