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Contract Lifecycle Management (CLM) Modules – Assembling Faster, Smarter

By ContractRoom on Apr 19, 2018 11:00:19 AM

While every contract has unique characteristics specific to the commercial transaction, there are certain features that lend themselves to standardization. Indeed, most contracts have been assembled by business and legal teams with a ton of “cutting and pasting” from various contract templates; however, with a lack of systemic control.  This can create what is known as content customization, worse yet and a ‘legal exception’ given the amount of complexity and risk a simple word change can generate. That is, content changes in the document assembly process can trigger a significant change in the intent or context and not be caught by the ‘naked eye’ in such process. So, if your company is a behemoth, or the proverbial “800 pound gorilla”, then maybe you can get away with just locking down your assembly process so no internal changes can be made.  And even not allow for editing or negotiation with your counterparty.

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Things to watch out for (and avoid) in contract consulting agreements

By ContractRoom on Dec 13, 2017 6:00:00 PM

Traditional contracts can have several pitfalls that can be avoided through the use of technology. Think about what a contract traditionally has been: a single, lengthy, paper-based document that is time consuming to create and, therefore, does not get updated regularly.

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What’s the future of contracting and the Blockchain for business transactions?

By ContractRoom on Dec 8, 2017 5:00:00 PM

With emerging technologies like blockchain ledgers and decentralized markets taking hold, business managers can fully expect the business contracting environment to change dramatically in coming years.

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What’s the right software for my company?

By ContractRoom on Dec 6, 2017 6:00:00 PM

With so many options in the market, buying new software to fulfill a specific need in your company can be dream—or a nightmare. So, where to start? What do I need to know? What should my team be taking into account?

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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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