The Material Contracts Corpus

Peter Adelson, Julian Nyarko
4/1/2025
cs.CL

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Abstract

This paper introduces the Material Contracts Corpus (MCC), a publicly available dataset comprising over one million contracts filed by public companies with the U.S. Securities and Exchange Commission (SEC) between 2000 and 2023. The MCC facilitates empirical research on contract design and legal language, and supports the development of AI-based legal tools. Contracts in the corpus are categorized by agreement type and linked to specific parties using machine learning and natural language processing techniques, including a fine-tuned LLaMA-2 model for contract classification. The MCC further provides metadata such as filing form, document format, and amendment status. We document trends in contractual language, length, and complexity over time, and highlight the dominance of employment and security agreements in SEC filings. This resource is available for bulk download and online access at https://mcc.law.stanford.edu.

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Cite this paper

@article{adelson2025material,
  title  = {The Material Contracts Corpus},
  author = {Peter Adelson and Julian Nyarko},
  year   = {2025},
  eprint = {2504.02864},
  archivePrefix = {arXiv},
  url    = {http://arxiv.org/abs/2504.02864v1}
}

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