General counsel and contract management
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Counsel Legal 5 reasons contract management matters Berkman | Solutions 10260 SW Greenburg Road, 4th floor Portland OR 97223 United States 1 (855) 517-2193 North America +1 (503) 517-4293 Worldwide www.BerkmanSolutions.com [email protected]
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This new presentation highlights the most important reasons for general counsel and outside legal counsel to use contract management as a bridge to the business. Avoid contracts being "filed and forgotten." Learn how business lawyers can add tangible value for the business client. General counsel and business lawyers often focus on the contract drafting and contract disputes. Clients, however, must work with contracts during the entire lifecycle of the agreement. Even in the best cases, important legal provisions are not tracked and monitored. In the worst cases, contracts are "filed and forgotten," until a dispute arises. Contract management bridges the gap between the lawyer's carefully negotiated and drafted contract and the manager's need for data to operate the business.
Transcript of General counsel and contract management
CounselLegal5 reasons contract management matters
Berkman | Solutions !10260 SW Greenburg Road, 4th floor Portland OR 97223 United States ! 1 (855) 517-2193 North America +1 (503) 517-4293 Worldwide !www.BerkmanSolutions.com [email protected]
5ReasonsBerkman | Solutions !10260 SW Greenburg Road, 4th floor Portland OR 97223 United States ! 1 (855) 517-2193 North America +1 (503) 517-4293 Worldwide !www.BerkmanSolutions.com [email protected]
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contract management matters
Provide better advice1
Better legal advice
Contracts are no longer “filed and forgotten”
Remain close to operations
Negotiate based on business value
Notify clients of expiration dates automatically
Alert clients to auto-renewal notice dates
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Improve performance2
Improve performance
Manage the entire “contract portfolio”
Prioritize revenue contract management
Control expense contract auto-renewals
Identify cost escalator provisions 2
Control legal risks 3
Control legal risks
Monitor specific performance obligations
Report on exceptions to legal policy
Limit access to contract information as needed
Track insurance and risk allocation provisions
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Ensure compliance4
Ensure compliance
Identify relevant regulatory requirements
Perform routine compliance reviews of contracts
Identify potential counterparty breaches
Identify potential client breaches
Perform routine counterparty reviews
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Be relevant
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Be relevant
Deliver “contract portfolio” insight to senior management
Add financial value for the entire “contract portfolio”
Improve operations between legal and business groups
Expand capacity to support the client organization
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CounselLegal5 reasons contract management matters
Berkman | Solutions !10260 SW Greenburg Road, 4th floor Portland OR 97223 United States ! 1 (855) 517-2193 North America +1 (503) 517-4293 Worldwide !www.BerkmanSolutions.com [email protected]
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