The 8 Stages of the Contract Lifecycle

    By Jamie Reedy on 03/8/23

    reading-minutes-icon-one-color 4 min read

    Contracts are legally binding - and thus need to be executed properly.  Legal teams should equip themselves with a thorough understanding of the contract lifecycle.  The contract lifecycle is the process under which a contract is authored, reviewed, sent for signature, executed, and - potentially - renewed. 

    The "lifecycle" is an archetype used to compartmentalize and understand a contract's complex evolution.  The lifecycle begins with contract requests and concludes when these requests are fulfilled - with the possibility of managing contract renewal.  Let's further explore the eight stages of the contract lifecycle below and how contract management software can help streamline your contracting processes. 

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    8 Contract Negotiation Strategies To Reach a Win-Win Outcome

    By Sean Heck on 02/16/23

    reading-minutes-icon-one-color 5 min read

    Nearly every business relationship involves a contract. At the crux of every contract is back-and-forth negotiation. This chess-like undertaking requires purposeful and good-faith cooperation on both sides.

    The cutthroat, 1980s Wall Street businessman approach of trying to steamroll one’s opponent into submission often depicted in movies does not reflect successful contract negotiation in real life. True contract negotiation requires active listening, considerate acknowledgment of both parties’ pain points, and the ability to forge a win-win agreement.

    As such, here are 8 contract negotiation strategies to improve your contract negotiation processes.

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    How Contract Review Can Be Easy With CLM Software

    By Sean Heck on 01/16/23

    reading-minutes-icon-one-color 3 min read

    Contract review is a crucial contract management stage.  Unfortunately, far too many organizations overlook this process or leverage out-of-date methods that can increase unnecessary risk.

    Thankfully, we can establish a contract review processes checklist and manage the life of a contract with leading contract management software.  Let’s get started.

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    What Is Contract Negotiation and How Can Legal Technology Help?

    By Joshua Hansen on 11/3/22

    reading-minutes-icon-one-color 8 min read

    Contract negotiation can create the difference between a strong or weak contract, which can directly impact the bottom line of an organization. As contract negotiation processes evolve at the speed of technological innovations, discover how leading-edge legal technology can empower your negotiation processes - including the use of robust version control, document collaboration, rules-based clause ownership, redlining software, and more.  While contract negotiations can take their necessary time, automating contract negotiation steps where possible allows you to focus more on contract negotiation strategy.

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