Contract Insights

Summary / Key Takeaways

• A unilateral contract is formed when one party promises something in exchange for a specific act by another.
• It becomes legally binding only when the requested action is completed.
• Common examples include reward offers and public service incentives.
• CobbleStone Contract Insight® helps manage unilateral agreements with automation and tracking tools.

Is the legal profession immune to the rapid shifts defining the 21st century? Absolutely not. The very fabric of legal practice is being reshaped at an unprecedented pace. The role of legal professionals is undergoing a significant transformation in the 2020s, driven by technology, changing client expectations, and a shifting global landscape, demanding new skills and approaches to providing legal services. This post will explore the key drivers behind these changes, the new skill sets required for success, the evolving paradigms of service delivery, and the ethical considerations that must guide legal professionals into the future.

From simple deals between friends to complex business arrangements, contracts play a crucial part in defining the terms and conditions of an agreement. One common type of contract is a bilateral contract – which we will explore in this blog post!

Let's be honest for a second: contracts are not the most glitzy, glamorous thing in the world. However, they are the backbone of any business, and if they're not managed well, they can quickly transform into a nightmare of missed deadlines, litigation headaches, and lost revenue. That's where a killer contract management team comes in. Think of each team member as a superhero of your business agreements, protecting you from risk and unlocking hidden value. This guide will walk you through how to build a team that not only manages your contracts but crushes it.