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Contract Writing Best Practices: Creating Visual Contracts for Legal Drafting

By ContractRoom on Mar 7, 2017 9:00:00 AM

When you picture a contract in your mind’s eye, you probably imagine a two things: paper and words. Specifically, a lot of paper, and a lot of words. However, with the digitization of the contract, hard copies of these documents are much more rare, and in the future, dense blocks of words may be sharing more space with images, charts, illustrations, infographics, and visualizations.

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How To Avert Disaster When Negotiating Consulting Agreements

By ContractRoom on Feb 10, 2017 10:38:50 AM

Ensuring the success of a consulting job begins at a very specific point: negotiating the consulting agreement with the contracting party before any official work begins.

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Contract Writing Best Practices: Utilizing Hyperlinking For Ease And Clarity

By ContractRoom on Jan 18, 2017 6:20:00 AM

Contrary to what might first appear to be the case, long, dense contracts filled with legalese are not necessarily more thorough and do not necessarily do a better job at offering legal protection than shorter, plainer contracts. In fact, long and unwieldy contracts are often harder to navigate, harder to understand, harder to control, and possibly, harder to defend in the courtroom.

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Contract Writing Best Practices: The Argument for Standardization

By ContractRoom on Jan 10, 2017 7:30:00 AM

Contract standardization has a history that is almost as long as contracts themselves. Due to the complexity of contracts as well as to the legal aspects of contracts, businesses and individuals have long used standardization practices in conjunction with all phases of the contract practice, from what contracts say to how they are presented and approved.

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Contract Writing Best Practices: Balancing Plain Language and Legalese

By ContractRoom on Nov 25, 2016 6:30:00 AM

Contracts have a well-known reputation for being dense, technical, and even completely incomprehensible–and historically, people expect contracts to be baffling fine print that can only be interpreted by attorneys.

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6 Tips for Responding to RFPs (Requests for Proposals, part 2 of 2)

By ContractRoom on Nov 23, 2016 6:30:00 AM

Request for Proposals (RFPs) are, more than anything else, opportunities: opportunities to partner with a new business, opportunities to show you capabilities, and, ultimately, opportunities to grow your business. In fact, without the ability to submit accurate and engaging RFPs, you lose the ability to be a successful business.

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5 Tips for Responding to RFIs (part 1 of 2)

By ContractRoom on Nov 10, 2016 9:00:00 AM

A Request for Information (RFI) is utilized by agencies, businesses, and government bodies to better understand the current market conditions and to better grasp the specific capabilities of businesses that provide needed products and services. More importantly, though, RFIs are opportunities for the responders to make a great first impression on the requesting organization and show exactly what their business can do.
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Contracting as a Managed Service

By Gabriel Buigas on Nov 8, 2016 10:00:00 AM

Most enterprises today suffer from a sub-optimal contracting process.  It is not for lack of a lot of hard working, well intentioned legal and contracting professionals.   Achieving contracting excellence is hard.   

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5 tips for choosing and working with CROs

By Katie Cook on Oct 27, 2016 8:00:00 AM

We’ve written a few articles about tips for conducting clinical trials and in doing so working with CROs (clinical research organizations or contract research organizations). Here we consider 5 simple tips for selecting the best CRO for a trial and also tips for how to work with such organizations.

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2 tips for hiring and managing your in-house team as General Counsel

By Katie Cook on Oct 25, 2016 8:00:00 AM

How to pick the right people for and foster and manage your in-house legal team

I recently considered:

* The skills required by today’s GCs - 
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4 possible disadvantages of working with a CRO

By Katie Cook on Oct 20, 2016 8:00:00 AM

In a previous article we considered some of the advantages of working with clinical trial research organizations or contract research organizations (CROs).  There are also some possible disadvantages that should be weighed with the advantages when making a decision about whether to use one.  Here are 4 such points to consider.  

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How being a General Counsel has changed in recent history

By Katie Cook on Oct 18, 2016 8:00:00 AM

I recently wrote an article that considered the skills that are needed for being an effective General Counsel. Now let’s consider some of the ways the role and practice of General Counsel has changed over the last few decades of recent history.

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The different personalities in the contract management process

By ContractRoom on Oct 13, 2016 8:00:00 AM

The different personalities in contract management

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5 ways to save time in the contract management process

By ContractRoom on Oct 11, 2016 8:00:00 AM

5 basic tips for saving time in the contract management process

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4 advantages of working with a clinical trial research organization

By Katie Cook on Oct 6, 2016 8:00:00 AM

In a previous blog post, we provided four tips for carrying out exceptional clinical trials, one of which include the assistance of a clinical trial research organization (sometimes called contract research organizations with both terms being abbreviated to CRO) to help you with the entire trial process. Here we take a closer look at the pros of using clinical trial organizations and in a later article we will look at the cons of doing so.  

Here are 4 advantages of using a CRO in your clinical trials:

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Developing the Skills for being an outstanding General Counsel

By Katie Cook on Oct 4, 2016 8:00:00 AM

Essential Skills for a General Counsel

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How to provide 6 parameters within which your employees can succeed

By Katie Cook on Oct 3, 2016 8:00:00 AM

3 areas to focus on for promoting a productive workforce (part 3)

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3 tips for encouraging fruitful relationships among employees

By Katie Cook on Sep 30, 2016 8:00:00 AM

3 areas to focus on for ensuring the efficiency and productivity of your workplace (part 2)

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Why I moved my start-up from Miami to Silicon Valley

By Peter Thomson on Sep 29, 2016 8:00:00 AM

On the move to Silicon Valley

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The Need for Contracting Champions

By Gabriel Buigas on Sep 27, 2016 9:29:23 AM

Kingsley Martin wrote a thought provoking piece on the future of contracting platforms. While it is hard to predict when the dawn of self-organizing, self-reporting contracts will be the norm under Kingsley’s optimized contracts maturity model, the reality is that everything that a company needs to transform its current contracting process and significantly move up the maturity chain is available today.

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Lessons learned from my transfer to Silicon Valley

By Katie Cook on Sep 22, 2016 8:00:00 AM

Transferring from law to a software startup - what I’ve learned about LegalTech

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5 Strategies for Planning for Risk and Uncertainty in the Supply Chain

By Sarah Aswell on Sep 20, 2016 3:42:20 PM

Planning for Risk and Uncertainty in the Supply Chain: 5 Strategies

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How technology can assist with simplifying your ISDA documentation

By Katie Cook on Sep 15, 2016 11:23:26 AM

Here are two ways that new technologies can assist with simplifying processes involving International Swaps and Derivatives Association (ISDA) agreements.  

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4 Benefits & 6 Challenges with a Globalized Supply Chain

By Sarah Aswell on Sep 13, 2016 8:00:00 AM

With the advent of the internet and other technologies, the improvement of transportation infrastructures, and significant developments in trade, the world has gotten much, much smaller in recent decades. In fact, globalization has affected most facets of our lives, including politics, economics, education, health, employment, and culture. It is no surprise that globalization has also greatly affected supply chain management (SCM).

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Contracting in HBO’s Silicon Valley

By Katie Cook on Sep 8, 2016 8:00:00 AM

The third season of HBO's Silicon Valley is now complete and Pied Piper has just released its product to market. Several hurdles have been overcome in the journey to this level of fruition including one of the key executives of the company being trapped in a self-driving car and large amounts of code being accidentally deleted.  Legal complications have also played a large role in the plot lines, including many issues related to contractual agreements.  These include:

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4 Companies set to benefit from Brexit

By Jennifer Tran on Sep 6, 2016 2:19:23 PM

The referendum held on 23 June 2016 to decide whether or not the United Kingdom should stay in the European Union caused quite a ruckus when the results came back. The result, 52% for leave against 48% for remain, has caused a changeover in power as David Cameron announced his resignation with Theresa May rising up to take his place. Brexit is also set to impact British and non-British businesses in several ways due to its effects.  Although the majority believe Brexit will have a negative impact on business (for a detailed analysis you can refer to Global Counsel’s report, Brexit: the impact on the UK and the EU here), there are some companies which may benefit from the decision in relation to their corporate contracts.  Let’s have a look at four different companies may be experience positive results due to Brexit in relation to commercial contracts.

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Embracing the new software for transforming Contract Management

By Lauren Harriman on Sep 2, 2016 9:48:02 AM

Lauren Harriman, J.D., CIPP/US, is a technology law blogger for TechTalkTranslated.com, the blog she launched during her final year at the University of San Francisco School of Law.  She initially launched the blog so that she could explain tech and news about tech privacy to readers who were not tech-savvy and make them laugh at the same time. Today, she writes about emerging technologies and associated legal issues. A product of both coasts of the United States, she began her career as a programmer for a small startup in Silicon Valley. She spends her free time skiing and developing ways to automate her work. 

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A Brief History of Artificial Intelligence

By Katie Cook on Aug 30, 2016 11:18:14 AM

 A short history of AI: AI and its growing impact business and law

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5 Things You May Not Know About the "Bridge of Spies" Negotiator

By Jennifer Tran on Aug 25, 2016 4:44:16 PM

Famous Negotiators: 5 Things You May Not Know About James B. Donovan (portrayed by Tom Hanks in “Bridge of Spies”)

Steven Spielberg has a large list of films under his sleeve: Schindler’s List, Saving Private Ryan, Raiders of the Lost Ark, etc. One of his latest releases, “Bridge of Spies”, tells the true and compelling story of a New York lawyer involved in a high-stake negotiation during the Cold War.

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6 Steps for the Better Monitoring of your Suppliers

By Katie Cook on Aug 24, 2016 9:48:56 AM

In a previous blog we considered how to deal with a situation where a supplier provides a product that doesn’t meet required standards. Now we look at some ways you can monitor the performance of your suppliers and by doing so make it less likely that you could end up in a such a situation.  Here are 6 steps you can incorporate into your plan for managing suppliers.

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Free eBook: A Short History of Legal Drafting

By Katie Cook on Aug 22, 2016 12:59:17 PM

Download your free eBook on A Short History of Legal Drafting here:

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5 Steps Toward Achieving Sustainability in the Supply Chain

By Sarah Aswell on Aug 19, 2016 10:09:59 AM

In the past, supply chain management has valued efficiency, accuracy, and economy over all else. However, in recent years, sustainability has gained an increasing amount of importance to a growing number of supply chain players and stakeholders, evolving some of the fundamental processes and philosophies that have been in place in the industry for decades.

In this post, we will take a closer look at why sustainability in the supply chain is a goal worth striving for as well as the five steps that managers and companies can take toward achieving sustainability.

Why Achieve Sustainability in the Supply Chain?

Working sustainability into the supply chain without disturbing already-complex processes may seem like a mammoth task, but the rewards of doing so are significant–not to mention that sustainable practices will likely be required more and more in the future whether or not changes are made now. Why is sustainability in the supply chain worth the effort?

* To align practices with the goals and wishes of stakeholders. Sustainability is a growing concern of investors, shareholders, manufactures, retailers, and customers alike. Engaging in sustainable practices improves relationships and welcomes business opportunities.

* To follow current regulations and to keep ahead of the regulatory curve. Supply chain management involves following rules, regulations, laws, and guidelines provided from a number of diverse governing bodies. As the world turns its focus toward preventing global warming, limiting emissions, promoting social justice, and conserving resources, supply chain regulations reflect that.

* To make improvements to processes, products, and overall business. In many cases, there are real advantages that are being uncovered by making sustainability a priority. Specifically, many businesses have improved their processes, discovered innovations, saved resources, and ultimately saved money through focusing on sustainability.  

* To protect and sustain the environment. Although there are many reasons to consider sustainability, the central and root reason should never be forgotten: to preserve the environment and its resources to the best of our abilities, for the good of the earth and its inhabitants.

Creating A More Sustainable Supply Chain

In many ways, deciding to make sustainability an important aspect of the supply chain is the easy part. In fact, while many companies have recognized the importance of sustainability in recent years, recent reports show that while sustainability is of growing importance to corporations, implementing change can be a slow, convoluted, and difficult process. Below, we have outlined five big steps toward establishing sustainability in the supply chain.

1. Understand the environmental impact of your supply chain. The first step in any solution should be to fully understand your problem. Take an inventory of your suppliers, identifying their major issues with sustainability as well as any opportunities for improvements. During this step, many corporations have found that reducing the number of suppliers makes it easier to track and understand the issues related to the sustainability of their supply chain.

2.Have clear objectives and goals. Having a vision and establishing the importance of sustainability is one thing. Outlining clear expectations, plans, and goals is another. Not only will hard-and-fast goals give individuals along the supply chain specific tasks and action items to focus on, it will also make it much easier to analyze and evaluate progress over time. Goal-setting should be a collaborative process that ensures that sustainability goals do not conflict with other business goals. Each goal should then be translated into actions that are assigned to various managers and suppliers.

3. Make sustainability part of the culture, at all levels. Sustainability shouldn’t just be a list of goals, it should be integrated into the corporate culture and seen as a company value. One of the best ways to engender this value is to create a supplier code of conduct that clearly outlines expectations, current guidelines, and all measures that should be taken to limit environmental and social harm. This code of conduct should be created with the assistance of key managers across teams and keep in mind the challenges, circumstances, and sizes of your suppliers.

4. Monitor improvements and encourage transparency. Tracking and analyzing performance data is vital to creating a successful sustainability program. To do this, you must first encourage an unprecedented amount of transparency which may be a challenge or at least an adjustment for many suppliers. Getting valid data both from supply chain managers as well as from suppliers can be the biggest challenge on the road to sustainability.

5. Collaborate and partner. Sustainability of the supply chain is impossible without increased communication, collaboration, and transparency. No only is sustained cooperation needed between corporations and suppliers, but also on an industry-wide level. Companies can and must work together to share best practices, innovations, and strategies that can help all achieve a more environmentally-friendly, socially just, and healthier supply chain.

What are your thoughts?  Do you work in supply chain management?  How do you think the supply chain could be made more sustainable?

ContractRoom is a contract management software system and online negotiation platform that can assist those working in supply chain management. For more information about ContractRoom go to www.contractroom.com or to book a free demo follow this link :Request Demo 

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How to respond when you receive sub-standard products or services

By Katie Cook on Aug 16, 2016 5:04:19 PM

It's easy to know what the best thing to do is when you receive something something sub-standard which you've ordered online as a consumer i.e. send it back and demand a full refund. It's not so simple when this occurs in the business context. This is because there are many factors to consider which simply are not part of the equation when you are a consumer.  These include the fact that how you approach the issue will impact on your continuing business relationship or the cost your business may incur if you end up having to change suppliers. So what is the best way to proceed if you supplier doesn’t deliver on time or delivers something sub-standard? Let’s take a look at a step-by-step approach.

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Free eBook: What the Future Holds for Contract Management

By ContractRoom on Aug 12, 2016 1:49:17 PM

Download ContractRoom's new free eBook - What the Future Holds for Contract Management:

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The commercial contracts of the 2016 Olympics: Who are the winners?

By Katie Cook on Aug 11, 2016 11:42:54 AM

Analyzing the commercial contracts of the 2016 Olympics: Who are the winners?

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5 services Legal Outsourcing Providers (LPOs) can do for you

By Katie Cook on Aug 9, 2016 10:52:08 AM

How the practice of corporate law is changing (Part 2)

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3 industries blockchain and smart contracts are likely to disrupt

By Katie Cook on Aug 5, 2016 4:55:37 PM

3 industries that blockchain technology and smart contracts are likely to disrupt

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3 areas to focus on for fostering a productive workforce (part 1)

By Katie Cook on Aug 5, 2016 4:02:02 PM

 

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15 ways big data is transforming supply chain management

By Sarah Aswell on Jul 28, 2016 9:42:04 AM

15 Ways Big Data Analytics can help improve the Supply Chain and 3 potential barriers

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The new B2B contracts that are likely to arise from Pokemon Go

By Katie Cook on Jul 26, 2016 11:21:17 AM

Unless you’re living under a rock you will have heard of Pokemon Go, the new game in the form of an app created Niantic Inc., an American software development, which is also responsible for its distribution.  The game, Pokemon Go, is owned by the Pokemon Company, which is in part owned by Nintendo.  Apple and Google are also receiving a lot of the revenue Pokemon Go is creating.  The playing of this game has become a craze!  So much so that American presidential nominee, Hillary Clinton, has even used “Pokemon Go” as a verb, describing how she would like people to respond in the polls.  "I don't know who created 'Pokemon Go,' but I'm trying to figure out how we get them to have 'Pokemon Go To the Polls,' she said.  

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Waze for Contracting!

By Lauren Harriman on Jul 21, 2016 9:13:59 AM

Lauren Harriman, J.D., CIPP/US, is a technology law blogger for TechTalkTranslated.com, the blog she launched during her final year at the University of San Francisco School of Law.  She initially launched the blog so that she could explain tech and news about tech privacy to readers who were not tech-savvy and make them laugh at the same time. Today, she writes about emerging technologies and associated legal issues. 

Topics: contracting Waze
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3 tips for evaluating and managing risks in partnership agreements

By Katie Cook on Jul 19, 2016 8:41:21 AM

Failure to properly investigate and evaluate the integrity of businesses with which your company has entered into partnership agreements can lead to several negative consequences.  

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What will contract lifecycle management look like in the future? Part 3

By Katie Cook on Jul 14, 2016 8:45:16 AM

Match made in heaven? Contract Management Practice in relation to Contract Lifecycle Management Software (CLM Software)

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Agile Law: How to Apply Kanban in a Legal Department

By Ilina Rejeva on Jul 12, 2016 11:08:59 AM

Dr. Sascha Theissen is an expert in providing lean and agile business improving solutions. He started his career as an attorney, working for six years in two highly respected law firms and serving clients such as Porsche, Intel, Playboy, big OEMs, machine manufacturers, publishing companies and internet startups.

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3 tips for making your master services agreements (MSAs) effective

By Katie Cook on Jul 7, 2016 8:18:01 AM

3 tips for contract drafting - ensuring you have effective master services agreements (MSAs)

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Future concepts in CLM systems software

By Katie Cook on Jul 5, 2016 10:23:57 AM

Future terms/concepts in Contract Lifecycle Management (CLM) systems software and contract management software

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4 tips for carrying out exceptional clinical trials

By Katie Cook on Jun 30, 2016 10:11:26 AM

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3 tips for surviving uncertain times in the oil and gas industry

By Katie Cook on Jun 28, 2016 5:07:21 PM

The oil and gas industry is going through a period of massive change.  Many factors have transformed it in recent times and continue to transform it.  These include:

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The Effects of Data Analytics on Politics, Media and Business

By Katie Cook on Jun 23, 2016 5:04:31 PM

Collecting and analysing data has recently become commonplace in several spaces.  Three of those areas are politics, media and business.  This article considers how large scale data analysis is changing the way things are done in these three fields.

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6 Ways the Supply Chain has Transformed in the Last 20 Years (part 2)

By Sarah Aswell on Jun 21, 2016 9:34:56 AM

Last week we wrote about 3 of the ways the supply chain has changed in the last 20 years.  This week we continue this article series with a further 3 ways and consider what supply chain management will look like in the future.

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6 Ways the Supply Chain has Transformed in the Last 20 Years (part 1)

By Sarah Aswell on Jun 16, 2016 5:17:16 PM

The basic tenants of supply chain management have remained static throughout time and will not change in the foreseeable future: it will always involve the flow of goods, services, and information from the supplier all the way to the consumer. It will always rely on analysis to increase efficiency and quality. It will always thrive on innovation, logic, and logistics.

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Embrace Standards, Don’t Use Form Contracts

By Jordan Couch on Jun 14, 2016 10:37:53 AM

Seriously don't. No matter how efficient it may be it is not a good practice. But before the commenting begins, allow me to explain.

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The new method for document assembly - a modular approach

By Katie Cook on Jun 9, 2016 11:26:15 AM

How to create a modular framework for your contracts and agreements

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What is Digital Transaction Management and how can it help your business?

By Katie Cook on Jun 7, 2016 4:00:38 PM

What is digital transaction management (DTM), where’s it going and where does online contract management fit in this space?

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What will contract lifecycle management look like in the future? (Part 2)

By Katie Cook on Jun 2, 2016 4:12:54 PM

Future concepts and terms in CLM systems software

I recently considered the features Contract Lifecycle Management (CLM) systems are likely to have in the next 5 - 10 years.  In this article I consider terms that are likely to be used in 5 - 10 years time in the context of CLM systems and contract management. Below I outline a few after reviewing Gartner’s CLM Maturity Model (as well as adding one or two of my own predictions).  

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How will machine learning and NLP disrupt contract management?

By Katie Cook on May 26, 2016 7:11:36 PM

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Is your contract management software “expiring” or “expired”?

By Katie Cook on May 24, 2016 8:56:33 AM

New wave of Contract Lifecycle Management (CLM) software making the experience faster, easier and smarter!

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3 ways the practice of corporate law is changing

By Katie Cook on May 17, 2016 11:14:46 AM

There’s no denying it, the entire business landscape is being changed by various factors, and corporate law is not immune from this transformation.  In the past decade or so, the rise of high internet speeds, collaborative business technologies and ubiquitous system access via the cloud have all combined to elevate the way deals get done in business - including the role and placement of corporate law in this process.  Here are three principal ways the corporate legal industry is changing to become more engaged in the process of business negotiations and contracting:

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New technologies for supply chain management

By Katie Cook on May 12, 2016 4:47:23 PM

Some of the newer technologies available for reducing risk and increasing profits in Supply Chain Management (SCM)

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What will contract lifecycle management look like in the future? (Part 1)

By Katie Cook on May 11, 2016 8:59:23 AM

Features that CLM systems are likely to have in the near future

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Avoiding the contract management cave-in in mining

By Katie Cook on May 5, 2016 5:01:45 PM

What is the best way to manage the contract management process in the mining industry?

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How to logistically manage your contracts (Part 2)

By Katie Cook on May 3, 2016 1:53:12 PM

How to manage your contracts logistically for logistics providers

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How to solve the problem of version control

By Katie Cook on Apr 28, 2016 5:14:21 PM

How to ensure you have proper version control when drafting business documents and contracts

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3 ways to avoid risks in supply chain contracting

By Katie Cook on Apr 26, 2016 4:07:45 PM

 

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How to logistically manage your contracts (Part 1)

By Katie Cook on Apr 21, 2016 9:18:17 AM

Contract Management for Logistics Providers

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What can be learned from the Panama Papers about the Cloud?

By Katie Cook on Apr 19, 2016 8:47:09 AM

The Panama Papers and the security benefits of the Cloud?

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Reducing risks in construction projects - part 3

By Katie Cook on Apr 14, 2016 1:33:41 PM

Eliminate risks in architectural, engineering and construction projects

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What parts of a legal practice can be automated?

By Katie Cook on Apr 12, 2016 7:34:05 AM

Fully realize the benefits of technology in your legal practice

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Save time while contracting in the media and entertainment industry

By Katie Cook on Apr 7, 2016 5:10:05 PM

Ideas on how to navigate the legal landscape in the Media and Entertainment Industry

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Reducing risks in construction projects - part 2

By Katie Cook on Apr 5, 2016 9:06:58 AM

Eliminate risks in architectural, engineering and construction contracts

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Reducing risks in construction projects - part 1

By Katie Cook on Apr 1, 2016 9:30:00 AM

Eliminate risks in architectural, engineering and construction contracts

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Free eBook: Essential Principles of Software Selection

By Katie Cook on Mar 30, 2016 1:05:14 PM

Download ContractRoom's new free eBook - Essential Principles of Software Selection here:

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Conquer the complex legal demands in Education as General Counsel

By Katie Cook on Mar 30, 2016 11:43:53 AM

 

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Is a tool like JIRA the solution for tracking the contracting process?

By Peter Thomson on Mar 24, 2016 4:07:26 PM

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How to expedite and systematize your corporate governance obligations

By Katie Cook on Mar 22, 2016 2:34:35 PM

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How to speed up the corporate decision-making process

By Emil Stefanutti on Mar 17, 2016 11:45:36 AM

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A short history of legal drafting (Part 3)

By Katie Cook on Mar 15, 2016 9:23:32 AM

Innovative approaches to standardizing contracts 

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The perfect pill for contract management in Pharma

By Katie Cook on Mar 10, 2016 2:15:18 PM

Contracting in large-scale Pharma - regulation, compliance and contract management in the pharmaceutical context

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A short history of legal drafting (Part 2)

By Katie Cook on Mar 8, 2016 2:10:38 PM

Modern legal language and the future of legal drafting

A push towards Plain English language and a push back?

Read Parts 1 and 3 of this aricle series here:

Part 1 - http://blog.contractroom.com/a-short-history-of-legal-drafting-part-1 and

Part 3 - http://blog.contractroom.com/innovative-approaches-to-standardizing-contracts 

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Is your tech company's contract management system up to scratch?

By Peter Thomson on Mar 4, 2016 10:15:23 AM

Ensure good growth and governance in your negotiations and contracting with the right contract management software!

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A short history of legal drafting (Part 1)

By Katie Cook on Mar 1, 2016 8:54:21 AM

A Short History of Legal Drafting: How modern legal language evolved to what it is today

You can read Part 2 of this series here: http://blog.contractroom.com/a-short-history-of-legal-drafting-part-2 .

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Manufacture a flawless contract management process

By Katie Cook on Feb 26, 2016 2:51:19 PM

Leverage contractual data to continually improve your manufacturing processes

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How to avoid legal discovery nightmares

By Katie Cook on Feb 23, 2016 9:12:08 AM

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Some of the surprising ways technology will affect future negotiations

By Katie Cook on Feb 19, 2016 11:12:18 AM

There has been a lot of discussion about how new technologies such as online negotiation and contract management software are changing the process of getting deals done - either from a legal, sales or procurement perspective.  Most of this has focused on how it’s accelerating the process and making it more streamlined.  

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Standardization of contractual language - the pros and cons

By Katie Cook on Feb 17, 2016 11:34:51 AM

The arguments for and against standardizing contractual language

It seems everyone in the contracting world has an opinion about how a contract should be drafted.  We recently published an article by Seattle Lawyer Jordan Couch, “The 3 Rules of Contract Drafting” - http://blog.contractroom.com/the-3-rules-of-contract-drafting.  This article attracted more visitors and comments than most articles posted on our blog.  While many readers agreed that Jordan Couch’s rules were good guiding principles, many offered alternative opinions similar to that of Contract Manager, Andrew Milchem from Milchem Group in Adelaide Australia.  He posted this comment on the IACCM Group on LinkedIn for Contract & Commercial Management professionals:

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How to reduce the 4 main risks in the contract management process

By Peter Thomson on Feb 11, 2016 4:51:33 PM

How contract lifecycle management software can help reduce risks in negotiation!

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Why email is not secure or practical

By Katie Cook on Feb 9, 2016 4:14:25 PM

Email is insecure and impractical

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How to leverage reverse psychology in negotiations

By Peter Thomson on Feb 4, 2016 5:28:42 PM

Leveraging reverse psychology in negotiations with the aid of contract management software

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Effective contract management in the healthcare industry

By Katie Cook on Feb 2, 2016 4:42:15 PM

If you work in the healthcare industry in a legal capacity your concerns on a day to day basis most properly include the following:

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How big is your negotiation data? and is your machine learning?

By Katie Cook on Jan 28, 2016 9:51:22 PM

What big data is there in contract management and how may it be leveraged?

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What do music, ants and contract management all have in common?

By Katie Cook on Jan 26, 2016 3:21:25 PM

Music, ants and contracts seem worlds apart.  However. recently I listened to an NPR ted talk where Professor Deborah Gordon (http://web.stanford.edu/~dmgordon/), a Stanford University professor, talks about how music and ants are related.  You can listen to this NPR podcast here: http://www.npr.org/player/v2/mediaPlayer.html?action=1&t=3&islist=true&id=57&d=04-24-2015 .

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Is your corporate IT strategy expired?

By Emil Stefanutti on Jan 21, 2016 4:26:15 PM

Defining a corporate IT strategy can be one of the most difficult feats undertaken by corporate managers today.  The IT landscape is continually changing with new software and capabilities emerging all the time.  Picking one that is right for your business and the manner in which you leverage your software can mean the difference between corporate success with high productivity and efficiency, and failure due to wasted time and resources.  In order to properly plan your IT corporate strategy, you need to first assess your current situation and decide whether you are wired, tired, or expired.  

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True or False: “No one ever gets fired for buying IBM”?

By Emil Stefanutti on Jan 19, 2016 8:46:28 AM

'No one ever gets fired for buying IBM’ is a well-known phrase. This brilliant branding tactic suggested that choosing the larger, more established option, was the right decision for a corporation, not because of any intrinsic quality but because it's was the industry standard. However, is this really the truth today?

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How your purchasing process is costing you more than you think

By Peter Thomson on Jan 14, 2016 5:00:52 PM

The rise of predictive agreementTM

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Legal Technology Today [Fun Infographic]

By Katie Cook on Jan 13, 2016 1:28:58 PM

Our friends at LegalTrek (https://legaltrek.com) have created a fun infographic commenting on current attitudes towards legal technology today and the future of law practice.  What are your thoughts on their depiction of this industry?  

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Avoiding event planning disasters

By Katie Cook on Jan 12, 2016 5:35:09 PM

How to manage contracts that are important for a large scale event or function

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The case for automating Statements of Work

By Emil Stefanutti on Jan 7, 2016 9:33:20 AM

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Is your sales deal desk software the right solution?

By Peter Thomson on Jan 5, 2016 6:23:45 PM

Deal desks for sales teams are found throughout many industries and can range in size and complexity.  Some examples include those for enterprise technology sales and more complicated manufacturing deals.

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The essential building blocks of smooth commercial real estate

By Katie Cook on Dec 28, 2015 4:44:29 AM

 

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Famous Negotiations in History: The Treaty of Ghent Christmas Eve 1814

By Katie Cook on Dec 22, 2015 6:44:48 PM

What important lessons about negotiation and negotiation strategies can we learn from the signing of the Treaty of Ghent on Christmas Eve in 1814 (one of the famous negotiations in history)?  

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How to manage your human resources contracts

By Katie Cook on Dec 18, 2015 9:33:58 PM

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The 3 Rules of Contract Drafting

By Jordan Couch on Dec 11, 2015 10:18:53 AM

In our increasingly technological world contracts are becoming more prevalent and more complicated. Because it often isn’t practical or necessary to hire lawyers, many of these contracts are being written by business owners and their employees. How well they write those contracts can determine the survival and success of the business. With that in mind, these three rules of contract drafting can help you ensure that your contracts will protect your interests and avoid costly disputes.

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10 things to discuss when negotiating an operating agreement

By Katie Cook on Dec 8, 2015 5:00:46 PM

Starting a new company or other corporate venture is exciting!  

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6 tips for software selection: a consultative approach

By Emil Stefanutti on Dec 3, 2015 4:00:16 PM

Where does one start when trying to select the right corporate software to achieve a goal or fulfill a need within a business?  There are currently so many different corporate software options with products changing and new offerings coming to market daily.  As a corporate manager, it can be difficult, and even a daunting task to evaluate which software has the right functionality, the right price, and the right model to fit your business while trying to avoid buyer’s remorse or realizing, after completing an expensive implementation, that another product does exactly what you want it to do.

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Security and Safety for Cloud Software: Is the Cloud Secure?

By Matthew Sampias on Dec 1, 2015 5:58:36 PM

We have all seen the headlines, each week it seems like another major business’s reputation is at stake due to a data breach of some kind, costing thousands  of customers their personal information. While credit monitoring and other services for customers can help bring  back customer confidence, the fact that a modern major business can be so vulnerable to cyber-attacks  and that cybersecurity is such an issue is enough to make any board member or CEO lose sleep at night.

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What is Switch Tracking and how does it affect negotiations?

By Peter Thomson on Nov 26, 2015 10:16:01 AM

Switch Tracking is a pattern in conversations where one person’s reaction to feedback from the other changes the topic of conversation.  Two people having a conversation start to talk about two different things.  The concept of Switch Tracking was recently considered on NPR’s Podcast “The Hidden Brain”.  This excellent podcast can be listened to here:

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Negotiation at the dinner table

By Katie Cook on Nov 24, 2015 10:03:55 AM

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Hacking contract management: What are you “hacking” today?

By Katie Cook on Nov 19, 2015 10:12:42 AM

When I hear the word hacking, I imagine someone chopping or hoeing into something roughly.  Or, I think about a software nerd breaking through internet firewalls to steal data or implant a virus (not the human kind, but potentially even more devastating).  

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Optimizing 5 negotiation strategies for better agreement

By Katie Cook on Nov 17, 2015 2:06:00 PM

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How to recruit the best contract managers

By Katie Cook on Nov 12, 2015 9:50:40 AM

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3 essential soft skills for exceptional contract managers

By Katie Cook on Nov 10, 2015 2:46:08 PM

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How will electronic signature continue to evolve?

By Katie Cook on Nov 5, 2015 4:11:51 PM

Wired, Tired and Expired methods of signing in the digital world

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9 factors for measuring your contract managers' productivity

By Katie Cook on Nov 3, 2015 8:10:48 AM

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Halloween - 9 Rapport Building and Fear Inducing Negotiation Tactics

By Katie Cook on Oct 29, 2015 12:14:33 PM

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How to stop redlining in its tracks

By Emil Stefanutti on Oct 27, 2015 3:36:46 PM

How the new wave of contract management software is reducing time spent negotiating

Is it possible to use data analytics and clause standards to make the contract negotiation process more efficient? Certainly there are situations where standard contracts are routinely used and it’s undeniable that this saves time and money. For example, imagine how much longer standard real-estate processes would take if each time an agreement had to be drafted by scratch.

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Famous Negotiators: Herb Cohen’s negotiating career

By Katie Cook on Oct 22, 2015 12:32:18 PM

 

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8 Essential Data Points to Collect from Employee Contract Managers

By Katie Cook on Oct 20, 2015 5:24:41 PM

Planning for smooth transition of arriving and departing employees

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What is the most efficient way to do multi-party drafting

By Katie Cook on Oct 15, 2015 3:32:28 PM

Automating Collaboration: Expired, Tired and Wired Methods for Multi-party Drafting

Expired

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3 fun facts about the Cloud [Video]

By Katie Cook on Oct 13, 2015 3:41:11 PM

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11 things you can control in your contract management process

By Emil Stefanutti on Oct 8, 2015 3:30:43 PM

Current contract management processes are lacking proper rules and controls. Why is that a bad thing? Well, serious consequences typically arise from lack of oversight during the negotiation phase or mismanagement of contract commitments after execution.

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Can you track Track Changes? [wired, tired, expired?]

By ContractRoom on Oct 3, 2015 8:46:12 PM

Wired

A track changes tool with the following features:

  1. Tracks changes without requiring you to remember to turn track changes on;
  2. Provides a format for viewing changes that is easily decipherable;
  3. Properly formats and paginates documents which incorporate changes;
  4. Automatically mark-ups all changes made by external parties even when those parties have taken the document offline and made changes to it without using the “track changes” function i.e. no document comparison is required.
  5. Allows for multiple external parties to make changes to a document at the same time and properly incorporates and tracks these changes upon their return.

Tired

Using track changes with a word processor

Where only one or two people are involved this process is workable. However, track changes is clunky and requires an in depth knowledge of word to properly use all the features available in this outdated tool.

Expired

Using track changes with multiple parties

Deciphering changes that have been made becomes even more difficult when external parties (i.e., counterparties) are involved. They may take your version of the document, make their corrections and send the document back with their changes purportedly marked. But they also may fail to properly mark-up all corrections.

The only way of knowing for sure what changes have been made is to run a document comparison. However, formatting and pagination errors generated in this process can be headache inducing and not all word processor software (e.g. Mac Pages) allows you to do this.  Also, having to do so each time a version is sent back to you is burdensome. This is particularly so when multiple external parties are sending back different marked-up versions of the same original simultaneously. It is also easy to lose important data such as details of which changes were made by whom at which times.  

This process is expired!

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Technology Makes the “e” in e-Discovery Stand for Easy

By ContractRoom on Jul 23, 2015 6:07:53 PM

top view of work station.jpg

It may be a slight exaggeration to claim e-Discovery could ever really be easy. The tremendous amount of information created and stored electronically makes complying with rules of discovery in civil litigation a challenge. And that is never easy. But avoiding court sanctions and penalties for non-compliance — not to mention the staggering cost of collecting and reviewing the data — is the goal of any legal team, and with the right technology tools, managing the e-Discovery process is as easy as it can be.

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Can Automation Help with Compliance?

By ContractRoom on Jul 3, 2015 10:47:52 AM

Compliance is expensive and time consuming—keep abreast of regulations can be a full-time job in and of itself, let alone ensuring your company is in compliance. Can automated systems keep your firm in compliance? Absolutely. Whether you work in a highly regulated industry or simply want to ensure your team is using the most up-to-date and legally solid contracts, automated tools can eliminate errors and breaches.

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Structuring Unstructured Data in Contract Management

By ContractRoom on Jun 12, 2015 10:09:27 AM

Manage and Capture Your Unstructured Data!

In 2012, IDC conducted research on the digital universe in 2020. Based on the outcomes of that research, IDC estimates the world’s information is doubling every two years. By 2020, the world will generate 40 exabytes of data, a 40-fold increase from 2010! However, almost all of the current (approx. 90%) data is considered unstructured.

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Automation: the Future for In-House Legal Departments

By ContractRoom on May 29, 2015 2:28:05 PM

businessman on a rocketThere is a trend we’ve seen building over the last few years, and we think it’s one whose time has come. It’s the rise of operations within in-house legal departments. It’s an understanding that applying sound business practices to legal operations not only increases efficiency, it helps the company’s bottom line.

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Contract Management Needn’t be a Concern

By ContractRoom on May 13, 2015 11:20:31 AM

Easy work.jpgIf you have some concerns about your business’ contracting practices, you are not alone. Huron Consulting Group, conducted a survey with legal technology professionals, and more than half (57%) of the respondents said they are concerned about their company’s contract management procedures.

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What does virtual collaboration look like in contract negotiations?

By ContractRoom on Apr 27, 2015 8:37:58 AM

 

collaborating_virtually.jpeg

Most general counsel and procurement officers would probably agree that collaboration in contract negotiations is a challenge even when all parties are in the same room. So what happens in our virtual world where the new normal is that people are spread across multiple locations and time zones? What does virtual collaboration look like?

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Contracting in Three Easy Steps

By ContractRoom on Apr 17, 2015 12:20:53 PM

At ContractRoom, our mission is to make contracting easy and efficient. I recently came across an article by Cindy Cox in Inside Counsel about making the contracting process more efficient. The article, Contracting efficiency for your legal department in 3 easy steps, is a good read. And Cox’s advice dovetails perfectly with what ContractRoom offers.

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Can Contracting be Controlled?

By ContractRoom on Mar 27, 2015 11:52:12 AM

controlcontractmanagement.jpgAs a business leader, you know you can’t control every aspect of your business. That’s why you hire good people. However, there are some things you should be able to control, and your contracts should be at the top of that list. So often, though, drafting contracts quickly spirals out of control—the process become unwieldy and it’s impossible to follow all the changes and revisions to the content.

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Can Contract Compliance be Fun?

By ContractRoom on Mar 18, 2015 3:42:00 AM

happy-worker_23-2147518729.jpgCompliance simply isn’t fun for most people. Time consuming, tedious, confusing? YES… Fun? NO.

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Painless, Happy Contracting? YES, with digital, collaborative approach.

By ContractRoom on Feb 27, 2015 3:57:17 AM

Have you ever uttered the words painless – or better yet, happy – and contracting in the same sentence? Probably not, and you wouldn’t be alone. Even the savviest business and legal minds know that getting to a signed contract is a tedious, friction-oriented process. Additionally, the legal landscape is constantly evolving, meaning that business owners, corporate execs and their legal counsel (GCs) need stay current with the regulatory environment as well as staying on top of current industry trends and emerging technologies. Sound painful?Doesn’t have to be.

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Redlining is Painful

By ContractRoom on Feb 12, 2015 8:15:36 AM

businessman in painCollaborative editing tools for agreements/contracts (also, referred to as “redlining”) have been used for decades by contract negotiators (both attorneys and business people). The question is, are the current tools really suitable? Redlining has all the appearances of a wonderful collaboration tool, letting people see exactly what changes the other party is proposing and accepting or rejecting them. Therefore, on the surface, the answer may be, “Yes”. However, looks can be deceiving… and after reading on, you’ll probably quickly change your answer to, “No Way”.

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It’s Time to Create a Contracting Resolution/Revolution!

By ContractRoom on Jan 30, 2015 5:24:31 AM

It’s Time to Create a Contracting Resolution/Revolution… with the right way to collaborate, contract & comply.

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Everyone wants in on happy contracting...

By ContractRoom on Jan 27, 2015 9:43:43 AM

Had to share an email received this past weekend as an example of how the message of "happy contracting" is beginning to spread... We've had a huge uptick in our inbound traffic from potential users/customers expressing interest in our solution — which is not only a new way of contracting, but the best way for high-volume business-to-business transactions.

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Resolve to make contracting painless in 2015

By ContractRoom on Jan 23, 2015 6:14:08 AM

Late-January is still plenty early to make a New Year's Resolution. How about resolving to end the monkey business with contracts? That’s right, if you’re like us, then you probably want to stop all the nonsense involved in the current contracting process and make it more pleasant—or at least painless—for everyone involved.

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ContractRoom Selected as Demonstrator for DEMO Fall 2014

By ContractRoom on Nov 15, 2014 2:47:19 PM

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New Corp Website (& association with burgeoning DTM market)

By ContractRoom on Jul 22, 2014 12:54:27 AM

ContractRoom launches new corporate website... major upgrade to look and feel.

We’re pleased to announce the release of our revamped corporate website, which has a totally new look and feel.

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ContractRoom named Stratus Awards Finalist by the Big Intelligence Group

By ContractRoom on Jul 18, 2014 8:30:33 AM

From their PR release, "53 Cloud Companies that Matter in 2014"... and "the Business Intelligence Group’s Stratus Award winners represent all that is right in the Cloud"

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5 Things General Counsel Should Learn For 2014

By ContractRoom on Jan 23, 2014 7:15:02 AM

Written by Matt Faustman on Jan. 8 2014 and published under General Counsel Corner on UpCounsel

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ContractRoom Shortlisted as Most Promising Start-Up of the year

By ContractRoom on Dec 24, 2013 6:49:12 AM

ContractRoom has been shortlisted in the 2013-2014 Cloud Awards Program in the category, Most Promising Start-Up.

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ContractRoom in the News! Smart Technology drives B2B collaboration

By ContractRoom on Nov 25, 2013 3:08:13 AM

ContractRoom is excited to share that COO, Peter Thomson's, article, "Technology can boost smarter collaboration if you understand the process" is featured in IACCM's Contracting Excellence newsletter.

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Cloud-computing, Collaboration and Competitive Advantage

By ContractRoom on Oct 16, 2013 9:42:11 AM

Recently, the CIO of a large media company said he could only use software that was hosted on his company’s servers (this is called a “client server” system). When asked why, he said he had to follow his company’s “security policy”.

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Twitter Founder Shares How To Get Rich Online

By ContractRoom on Oct 2, 2013 4:13:21 AM

In Wired magazine's most recent issue (October 2013), Ev Williams, the founder of enormously huge internet successes Twitter and Blogger, reveals the secret formula for getting rich online.

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Contracting Process transformed from a Paper chase to being Data-Based

By ContractRoom on Sep 26, 2013 4:42:54 AM

Holy Grail versus Paper Trail:

Over the past 12 months, we have spoken to a lot of businesspeople, from the C-level suite, to the sales front line, to the legal team. Everyone feels the pain of the contracting process. And what is the basis of this pain? Trying to control paper.

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Fundraising from Friends and Family

By ContractRoom on Sep 23, 2013 4:10:31 AM

ContractRoom Co-Founder & CFO, Peter Thomson shares solid advice for anyone trying to raise start-up money from friends and family in his recent post in StartUp America's blog. Click here to read now, or continue reading below.

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Time To Team Up And End Contract Clean-Up

By ContractRoom on Aug 28, 2013 3:30:48 AM

 

Nathan Feldhacker
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ContractRoom Surpasses $1.2 Million in Investor Funding in Miami Herald

By ContractRoom on Aug 16, 2013 3:29:22 AM

http://miamiherald.typepad.com/the-starting-gate/2013/08/contractroom-surpasses-12-million-in-investor-funding-.html

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ContractRoom announces first ever Cloud-based software to help solve $100 billion problem

By ContractRoom on May 16, 2013 5:53:02 AM

 

Emil Stefanutti - ContractRoom's CEO
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ContractRoom Versus Docusign

By ContractRoom on Apr 24, 2013 6:07:36 AM

 

 
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Check out ContractRoom's new short Video!

By ContractRoom on Mar 6, 2013 8:36:15 AM

http://www.youtube.com/watch?v=ciFTursuctQ 

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Truly Cloud-based for the Enterprise?

By ContractRoom on Feb 11, 2013 2:00:47 AM

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So True. "Trendy Start-ups are Hot - Until They're Not"

By ContractRoom on Feb 7, 2013 9:29:51 AM

After reading, Erik Sherman’s piece: “Trendy Start-ups are Hot – Until They’re Not” in Inc. Magazine (1), I agree that entrepreneurs should “consider a B2B play” as suggested by the writer.

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Tips for when it's tough to get going

By ContractRoom on Jan 22, 2013 4:27:30 AM

See "Pushing Through the Tough Stuff" by Inc. Magazine's Rene Siegel. She talks about how to get started when you're stuck or can't seem to tackle business challenges. What helps you get through making the tough client, employee or vendor call?

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What do buyer's really want? Surprisingly not just best price

By ContractRoom on Jan 18, 2013 8:02:41 AM

While price is still high on a buyer's wish list, read "6 Things Every Customer Wants" by Geoffrey James, Inc. Magazine. You'll be surprised to find that a little homework, some creativity, clear communication and responsiveness will go a long way when negotiating with a buyer and closing the deal. What do you think is most important: Preparation, Simplicity, Creativity, Loyalty, Accessibility, or Accountability? What do you think buyers really want?

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The User Wins with SaaS Enterprise Software

By ContractRoom on Jan 11, 2013 6:44:44 AM

Great article on Venturebeat by Jeetu Patel. The ABCs of Enterprise SaaS demonstrates how the enterprise user wins with an easy-to-use and implement solution, simple front end, and a value proposition in favor of the user, not the vendor. Click on the link to read how enterprise SaaS solutions like ContractRoom are transforming the enterprise software market and user experience. The ABCs of Enterprise SaaS.

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SaaS Smart Computing Will Fuel 2013 Software Growth

By ContractRoom on Jan 10, 2013 6:11:01 AM

Check out this blog from TechCrunch about SaaS software solutions like ContractRoom fueling worldwide 2013 software growth ... to $59 Billion USD for SaaS solutions alone! Click on the blue link for the full story Forrester: SaaS And Data-Driven “Smart” Apps Fueling Worldwide Software Growth in 2013.

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Big Impact

By ContractRoom on Jan 2, 2013 8:45:22 AM

When Peter Thomson, CFO at ContractRoom, heard a high-level software exec’s assessment of ContractRoom, he knew he was involved in something big.

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