Wednesday, November 14, 2007

DocStoc Disaster

I saw DocStoc a few weeks ago and dismissed it. It seems to gathered a little more traction since the post by Matt Homann on the [non]billable hour: A You-Tube for Legal Docs? Check out DocStock.

Matt calls it the "You-Tube of legal documents." I think that it a correct assessment since I found it to be full of amateur information and copywritten materials.

For instance, I pulled up the Real Estate Purchase Contract. It is clearly stolen from the California Association of Realtors form of Purchase Agreement and Escrow Instructions. Copyright violation

I went on to the form Promissory Note. That one is embarrassingly bad.

Most of the posters are anonymous or an avatar. (I found the prolific FreeRealEstate person.) that does not give you any confidence in whether the agreement maybe good or bad. They are running a promotion that gives away an iPod Touch to the user who uploads the most documents each week. That is a great way to create quantity, not quality. I found an iPod winner in Farhan Khan who uploaded over 20,000 documents. It looks like he also just uploaded his hard drive. I do not know him, but I am not going assess any value to someone who uploaded that many "professional documents" and just finished his MS in computer science this year.

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