Use the same five columns
Claim, supporting evidence, verification gap, display rules, and reviewer. Resist adding 'notes' — push detail into evidence.
LEDGER TEMPLATE
Evidence ledger template.
An evidence ledger turns each research claim into a row with supporting records, a verification gap, and a display rules. Adopt this format and your team's work becomes reviewable — by your investors, your counsel, and your future self.
Why a ledger, not a memo.
A research memo describes the conclusion. A ledger captures the work. When the deal closes (or doesn't), or when counsel asks how a claim was reached, the ledger is the document that answers. Acren ships packets in this format; this template lets your team standardize the same shape internally.
Ledger structure.
| Claim | Supporting evidence | Verification gap | Display rules |
|---|---|---|---|
| Property record has entity context | Deed + entity registration match (REC-DED · SOS-ENT) | None | Customer-facing |
| Properties appear related (assemblage) | Adjacent parcel + shared registered agent (ASR-PARC · SOS-ENT) | Owner-of-record needs confirmation | Customer-facing · labeled 'Appears connected' |
| Operator distinct from owner | Operator filing + on-site signage | Operator entity not in SoS source | Summarized |
| Entity is successor to dissolved LLC | Officer overlap + agent overlap | Successor filing not yet recorded | Internal only |
| Relationship rejected | Contradicting deed history (REC-DED) | — | Suppressed |
| Facility carries permit context | Building permit context (PMT-BLD) | Permit detail is summarized | Summarized |
| Owner has portfolio of 5+ adjacent parcels | Cross-portfolio entity links + parcel adjacency | Two links 'Appears connected' | Customer-facing · labeled |
How to adopt the template.
One claim per row
Compound claims hide gaps. Split them — your reviewer thanks you later.
Cite source IDs, not URLs
Source IDs (REC-DED, SOS-ENT) survive URL rot. Keep a /sources mirror.
Make gaps mandatory
If the gap column is empty, the row hasn't been reviewed yet. 'None' is a valid gap.
Set display rules before sharing
Decide customer-facing / summarized / internal-only / withheld at row creation, not at the end.
- Copy the column header
Claim · Evidence · Gap · Posture · Reviewer.
- Create one row per atomic claim
Compound claims get split.
- Cite source IDs
REC-* · ASR-* · SOS-* · PMT-*.
- Fill in the gap explicitly
'None' is valid; empty is not.
- Set display rules before sharing
Customer-facing / Summarized / Internal / Suppressed.
Common rejected patterns.
| Pattern | Why rejected | Fix |
|---|---|---|
| Row with no source ID | Not reviewable. | Add source ID or label as 'Internal only / unsourced.' |
| 'Owner appears to be X' with no label | Confidence not declared. | Apply confidence label per the checklist. |
| Verification gap left blank | Reviewer cannot tell if rev was done. | Write 'None' if applicable; otherwise list gaps. |
| Customer-facing field on a summarized source | Display-rule mismatch. | Demote to summarized display or remove from the packet. |
| Multi-property claim in one row | Hides per-property gaps. | Split into one row per property. |
Responsible use
Responsible boundary
Responsible boundary. Not for FCRA-regulated use. Acren organizes commercial-property and business-entity records and ranks research priority from recorded evidence. It does not predict intent, provide valuation or underwriting, or support consumer-eligibility decisions.
Responsible use
Source trail required
Every recommendation must carry source trails, field-level rights status, and open questions.
Responsible use
Review before action
Customers are responsible for verifying records before outreach, capital, or workflow decisions.
Responsible use
Display rules built in
Customer-facing, summarized, internal-only, and withheld fields stay visible as product controls.
Continue
See how Acren ships packets in this shape.
Every Acren opportunity memo is a ledger like this — with the source records inlined.
Next step
Start with your market and buy box.
Responsible boundary. Not for FCRA-regulated use. Acren organizes commercial-property and business-entity records and ranks research priority from recorded evidence. It does not predict intent, provide valuation or underwriting, or support consumer-eligibility decisions.