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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    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  Unfortunately, far too many organizations overlook this process or leverage out-of-date methods that can increase unnecessary risk.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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    4 Ways a Proper Electronic Contract Improves Contract Management

    By Sean Heck on 11/22/22

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

    Traditional paper contracts were replaced long ago by better contract processes. The paper document has been foregone in favor of digital contracts. However, not all computer-based contract management processes are created equal.

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    What Is an Executed Contract? - A Brief Overview.

    By Sean Heck on 11/17/22

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

    Contract execution is a critical stage in contract lifecycle management. By this point, the terms of the contract have been negotiated. Parties have ensured that everything is understood and all necessary resources have approved the written agreement. From there, contract parties sign the contract to propel its execution.

    Given the importance of this stage of contract management, you should know what an executed contract is and its meaning. As such, here is a brief overview of an executed contract.

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