Negonation is a Spanish startup that is using advanced identification verification to create a one-touch system to hand the life-cycle of a contract. Combing hardware smart coder readers, Spain’s national ID card, and their software,Tractis, the system is being leveraged to provide a full range of identification and legal services, online. Once users sign up, they will be able to conduct contracting without the need of a lawyer. Additionally, similar to the United States, digitally signed contracts in Spain are legally binding, meaning that the contracts created by tractis are fully legal. As a final security measure, Negonation offers a guarantee against fraudulent transactions similar to credit card companies.
The largest single provider of online contracting is Ebay, although the contracts are exclusively for its auction and sales services. Through its ranking of individuals and Paypal division, Ebay provides the kind of service that Tractis seeks to do, but only for one type of transaction. Similarly, other services let individuals verify themselves and rate others based on trustworthiness, and digitally sign documents. These discrete services are provided by RSA, Truste, Echosign, and Ikarma. However, Tractis is the first to offer a turn-key legal solution.
|Launch Date||August 15, 2007|
Tractis is a full service legal solution for end-to-end contracting. Currently only open to Spanish residents, the system is a secure legally binding p2p,b2b, and b2p contracting system.