legaladvice Tag

by AMST Legal

How to Finish the Quarter Strong in Contract Negotiations – 6 Tips

Introduction

Is there a way to prepare for contract negotiation peaks, like the end of the quarter? Especially before the end of Q2 (Summer holidays and Q4 (Christmas holidays) commercial and legal teams see a spike in contracts that need to be signed. Also see this Harvard Business article on the end of quarter sales rush and how to improve your sales processes.

As a lawyer and in-house legal counsel since 2004, I’ve witnessed firsthand the challenges faced as quarter-end approaches. Negotiation deadlines, approvals bottleneck and orderly workflows turn into chaos and team members are stressed. What if you could approach this challenging period with strategic foresight and unmatched efficiency? Let’s explore how proactive planning can transform your end-of-quarter chaos into a symphony of streamlined processes in the Article ‘How to Finish the Quarter Strong in Contract Negotiations – 6 Tips’.

Harnessing Proactive Steps to Master the Quarter-End Crunch

The key to conquering the quarter-end isn’t reactive measures but proactive planning. With Q2 upon us, now is the perfect time to optimize your legal department’s operations and prevent the usual end-of-quarter negotiation bottlenecks.

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Setting the Stage for Efficiency

While Q2 is often underestimated in terms of urgency, it’s an ideal period for reflection and goal setting. Take this time to evaluate your legal department’s past achievements and outline ambitious targets for the weeks ahead. Actions taken now will not only streamline current processes but will also pave the way for a smoother Q3 and beyond.

Preparation in the previous months is instrumental in achieving this efficiency. Working on templates and improving meeting structures between legal and all relevant teams sets a solid foundation for success.

Example: One of my clients, a mid-sized tech company, struggled with the chaos of quarter-end contract negotiations. By introducing standardized templates for recurring agreements and setting up regular bi-weekly meetings between the legal team and sales departments, they managed to streamline their processes significantly. Within two quarters, the time spent on each contract was reduced by 30%, and the number of last-minute urgent requests dropped dramatically.

Here are some actionable tips to set your team up for success:

Templates Only

Avoid new custom-made contracts. Use standardized templates to save time and reduce errors.

Focus Only on Q2 Deals

Prioritize deals closing this quarter. Concentrate your efforts on what can be completed by the end of Q2 to avoid last-minute rushes.

Write Down Lessons Learned

Document improvements for future reference. Reflect on past challenges and successes to refine your processes continuously.

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The Power of Proactive Communication

With only a few weeks left in Q2, initiating a targeted communication strategy is crucial. Here’s a recommended approach:

Proactive Communication

Initiate clear and targeted communication early, also with outside counsel and customers. Open lines of communication ensure everyone is on the same page and can address potential issues promptly.

Set Clear Expectations

Define focus areas and require management approval for exceptions. Clearly articulate priorities to your team and stakeholders to ensure alignment and minimize distractions.

Example

At a large financial services firm I worked with, the legal team started sending out a “Quarter-End Preparation Bulletin” four weeks before the end of each quarter. This bulletin included a clear outline of priorities, deadlines, and key contacts for any urgent matters. By setting these expectations early, the team saw a 50% reduction in last-minute contract sign-offs and a smoother approval process.

Recommended Approach:

• Targeted Communication: Start with drafting a clear, concise email to your Sales, Partner, and Procurement teams.
• Clear Expectations: Outline that your focus for the upcoming two weeks will revolve around ongoing contracts, genuinely urgent matters, and documents needing signatures by quarter-end.
• Management Approval: Make it known that any deviations from these priorities will require direct approval from senior management.

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Building Trust Through Consistency

Implementing this proactive communication strategy may initially meet some resistance. However, consistency will foster trust and acceptance over time, leading to earlier and more efficient interactions with Sales, Procurement, and Partnership teams.

Consistency Builds Trust

Regular, predictable processes lead to better outcomes. Establishing a routine will help your team and stakeholders know what to expect and plan accordingly.

Consistency is key. When your team and stakeholders know what to expect, it builds trust and reliability. This consistency ensures that everyone is prepared and can plan their work around these predictable processes.

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Proven Success and Long-Term Benefits

Adopting this proactive stance can yield significant improvements within just a few quarters. By optimizing the use of your team’s resources and ensuring focus on critical, time-sensitive tasks, you can achieve better results and reduce stress.

Example

A medical devices company we advised implemented these strategies and saw notable improvements within 2 to 3 quarters. The legal team’s productivity increased by 40%, and they reported a significant reduction in stress levels and overtime hours during quarter-end.

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Next Steps for Implementation

Before you send out that crucial email, ensure your team is aligned during your regular meetings and gain the necessary buy-in from key stakeholders to support this new strategy. Make sure everyone understands the benefits and is on board with the changes.

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Conclusion

By embracing proactive strategies before the peak of Q2, you can effectively reduce negotiation hurdles and enhance your legal team’s productivity throughout the year. This approach, honed through my extensive experience in various high-level legal roles, can transform your quarter-end processes into efficient, well-oiled operations

by reggers.robby

How to Improve Your Negotiation – 7 Best Books to Read

7 Great Books to start with when you want to improve your Negotiation style. You will absolutely see that you will be a better negotiator if you apply the lessons mentioned in these books.

by reggers.robby

Förklaring av NDAs – Vad du behöver veta (del 1) 

Förklaring av NDAs – Vad du behöver veta (del 1)

I den konkurrenskraftiga affärsvärlden där idéer, innovationer, finansiell information och hemligheter är framgångsnycklarna, spelar Non-Disclosure Agreements (NDAs) ofta en viktig roll i att skydda ett företags konfidentiella information. NDA säkerställer att den konfidentiella informationen endast används för det specificerade ändamålet som parterna i en affärsrelation avtalat om. Denna artikel kommer att ge en omfattande översikt av NDA i sammanhanget Business to Business (B2B). 

Vad är ett NDA? 

Ett NDA, även kallat sekretessavtal, är ett juridiskt bindande avtal mellan två eller flera parter med syfte att skydda konfidentiell information som kan komma att delas under tiden av deras affärsrelation. Mer specifikt är företags konfidentiella information icke-offentlig information som skulle kunna skada företaget om det skulle offentliggöras. Vanligtvis inkluderas en lista över den konfidentiella informationen i avtalet. Det kan innehålla exempelvis affärshemligheter, know-how, produkt- och teknikrelaterad information, rabatter, kundlistor, försäljnings- och finansiell information, affärsplaner etc. 

Varför och när behöver vi ett NDA? 

I B2B-sammanhang kan NDA vara ett väsentligt verktyg för att skydda affärshemligheter och annan konfidentiell information som är viktig för ett företag för att bibehålla dess konkurrensfördelar. Denna känsliga information bör därför definieras tydligt och noggrant i NDA. Var däremot försiktig med att inte definiera det för snävt för att säkerställa att du inte har missat en viktig kategori. Genom användande av ett korrekt utformat NDA kan ditt företag skydda värdefull information från konkurrenter eller tredjeparter som kan dra nytta av att sådan information avslöjas. 

Primärt syfte 

Det primära syftet med ett NDA är att säkerställa att den avslöjade känsliga informationen används och hanteras säkert, vilket förhindrar en avslöjande part att använda eller röja informationen utan vederbörligt tillstånd och behörighet. Ett NDA undertecknas ofta i början av en affärsrelation innan man går in i affärsrelationen. 

Exempel 

Vanligt exempel: Ett teknikföretag planerar att sälja och erbjuda specialiserade programvarulösningar till en företagskund. Företagen börjar med att diskutera hur man integrerar programvaran i kundens system för att fastställa priset för integrationen och användningen av programvaran. För detta kan teknikföretaget dela insyn om sin prissättning, SLA, policys och programvara, och kunden kan i sin tur förklara sina utmaningar och dela affärsplaner. När företagen gör detta planerar de således att dela dokument, inklusive icke-offentliga sådana, det vill säga konfidentiell information. Därför rekommenderas det att sådana företag skriver under ett NDA innan de delar sådan konfidentiell information sinsemellan. Ett sådant NDA kan sägas upp när parterna undertecknar ett slutligt kundavtal, vilket också bör inkludera sekretessvillkor. 

Hur skyddar ett NDA din konfidentiella information? 

Precis som för vilket annat juridiskt avtal som helst, medför avtalsbrott av ett NDA rättsliga konsekvenser. Beroende på avtalsbrottets allvar kan konsekvenserna sträcka sig från rättsprocesser och ekonomiska påföljder till åtal i extremfall. Avtalsbrott avseende ett NDA kan också skada en parts renommé, vilket kan leda till andra långvariga konsekvenser för dess affärsverksamhet, särskilt i affärsrelationer och i branscher där förtroende och sekretess är avgörande. Rättsliga anspråk och stämningar rörande avtalsbrott av ett NDA hör inte till vanligheten, men det händer definitivt att ett företag behöver betala vite för avtalsbrott. Vi har även gett rådgivning några gånger tidigare i denna fråga. 

Vilken slags NDA behöver du? 

Det finns olika typer av NDA som kan användas baserat på de specifika omständigheterna och de involverade parternas behov. Nedan listas de tre vanligaste typerna: 

1. Unilateralt NDA (Ensidigt NDA): I ett ensidigt NDA ålägger en part, vanligtvis säljaren, den andra parten skyldigheten att säkra informationen och inte avslöja eller använda informationen för något annat syfte än det som specificerats i avtalet. I ett B2B-sammanhang, används ensidiga NDA ofta mellan köpare och säljare. Exempelvis kan ett bioteknikföretag (säljare) använda ett ensidigt NDA för att förhindra köparen från att avslöja känslig information de har fått vid köp av produkter eller tjänster såsom immateriella rättigheter och datorteknologi. Det är även vanligt i offentliga upphandlingar och för RFI (Request for information) vid RFP (Request for Price) situationer.   

2. Gemensamt NDA (tvåsidigt eller ömsesidigt NDA): Ett ömsesidigt NDA involverar två parter där båda parter kommer att dela känslig information med varandra och kommer ömsesidigt överens om att båda parter blir bundna av tystnadsplikt. Ömsesidiga NDA används ofta när parter behöver utbyta betydande mängder av konfidentiell information under sina förhandlingar eller affärsrelationer. Sådana situationer kan vara joint ventures, leverantörsavtal eller företagsförvärv. 

3. Multilateralt NDA (tre- eller flerparts NDA): Ett multilateralt NDA inkluderar tre eller fler parter, där åtminstone en part delar känslig information med andra parter och genomdriver tystnadsplikt. Den här typen av NDA förenklar pappersarbetet och administrationen för parterna på så sätt att parterna inte behöver ingå flertalet ensidiga eller bilaterala NDA med varandra. I en affärsrelation som involverar tre parter, där alla förväntar sig att avslöja konfidentiell information, kan ett enda multilateralt NDA ersätta behovet av tre olika bilaterala NDA mellan varje partspar. Sådana situationer kan vara partnerskap, regeringskontrakt (såsom försvars- och rymdfartskontrakt) och konsortieavtal. 

by reggers.robby

NDA’s Explained – What You Need to Know (Part 2)

Four Key Components of NDAs

by reggers.robby

How to improve your Contract Processes with Better Cooperation

Legal should focus on Better Cross-Departmental Cooperation

As we have highlighted in previous posts, it takes leadership and a team to improve your contract templates. Once Legal has taken the lead and the centralized responsibility to improve the contract templates, the next step is to involve and work together on this goal with other departments. The creation and use alone of contract templates will only offer limited benefits This is not only essential to receive all required input for the contract templates, but also for a successful implementation of the contract templates.

Legal professionals often limit their interactions to their Legal colleagues or senior management when creating and implementing contract templates or negotiating contracts. This limitation, while understandable, can lead to contract templates and agreed contracts that are legally sound but are missing critical business insights.

Additionally, as mentioned above, the complexity, inaccuracy and lack of processes will lead to the use of unauthorized or outdated templates and excessive Legal Review due to lack of internal processes and support from other departments.

Insight Integration: A Collective Approach on Template Creation

Therefore, aligning contract templates with the practical realities of the business is essential. Departments such as Sales, Products, Finance and Compliance offer invaluable insights on commercial and financial risks, practical considerations and the specificities of products or services offered by the company.

This input ensures that the contract templates are not only legally robust, but also fit in the commercial roadmap of the company and cover all other company risks (e.g. technical, compliance, operational and financial).

Another important reason to involve these departments in the drafting process of the templates is to create a sense of ownership and support from these stakeholders. When departments contribute in the development of the standardized contract templates of a company, they are more likely to endorse and actually use the templates. This collaborative approach not only enhances the quality and relevance of the contract templates but also ensures their acceptance and utilization across the organization, ultimately leading to smoother operations and reduced risks.

Enhancing Cross-Departmental Collaboration – Improve Communication & Cooperation

Legal´s role in improving the communication and cooperation with the rest of the company cannot be understated. Regular, strategic meetings between Legal and other departments are essential to set the stage for a more integrated and efficient approach to contract management of the company.

These discussions should focus on:

• a) Strategic Alignment: First, Legal needs to clearly communicate its short and long term intended contract optimization strategy to all departments. Secondly, these departments should share their strategy and specific requirements and contributions to the contract process and templates. This will give Legal the opportunity to create and roll-out the best strategy to improve the Company´s contract processes and templates.
• b) Issue Identification and Resolution: Facilitating an open dialogue where Legal and all other departments can highlight challenges encountered with current templates and collaboratively develop solutions to streamline cooperation and reduce operational burdens.
• c) Training and Involvement: Initiating internal workshops to educate teams on optimal contract template usage, Legal engagement policies, while encouraging feedback and suggestions for improvements to ensure templates remain relevant and effective.
• d) Proactive Communication: Discussing the optimization of the empowerment of the commercial teams, meaning that all relevant contract-related documents and information are proactively shared with customers and partners by the Sales, Partnerships and Procurement teams.

This will greatly minimize the workload of Legal and maximize their output due to a decreased need of Legal clarifications and Legal involvement in negotiations. The importance of regular, inclusive meetings and training sessions cannot be overstated. When planning, it is essential to engage every layer of the organization, from grassroots employees to top management, in strategic discussions and trainings.

These sessions serve as a cornerstone for aligning strategies, creating an environment where all team members are equipped with the knowledge and skills to navigate the complexities of the contract optimization process and their roles effectively.

By maintaining a consistent schedule of these critical discussions and training, organizations can avoid the pitfalls of reactionary measures during peak periods of activity. Instead, a well-informed and strategically aligned team will be ready to handle the demands of the business efficiently, ensuring continuity and resilience in the face of challenges.

by reggers.robby

Contract Negotiations: How to Avoid Negative Reactions in Redlines and Mark-ups

𝗤𝘂𝗶𝗰𝗸 𝗖𝗼𝗻𝘁𝗿𝗮𝗰𝘁 𝗡𝗲𝗴𝗼𝘁𝗶𝗮𝘁𝗶𝗼𝗻 𝗧𝗶𝗽 𝗼𝗳 𝘁𝗵𝗲 𝗗𝗮𝘆: When reacting to a comment or suggested wording by a counterparty that is commenting on your contract, 𝘢𝘷𝘰𝘪𝘥 using negative language like:

“Adding this wording in the Article is incorrect because it has already been covered in Art. 12.”

Instead, try saying:

“Thank you for your comment. I agree with your addition. Please note that we have already covered this in Art. 12.”

Additionally, for important subjects, you can add:

“If you do not agree with this wording, please let me know”; and/or

“Please let me know if you would like to discuss this topic during our next meeting”.

As we know, during contract negotiations, it’s important to maintain a cooperative relationship with the other party. Remember, the counterparty is also just doing their job and you are working together to reach a mutually advantageous outcome.

By using positive language in your reactions to comments, you can help keep negotiations running smoothly and maintain a good relationship with the counterparty.

For a bit more background on The Importance of a Relationship in Negotiations, please see the following article on the Harvard website.

See our original post on this subject on LinkedIn

#ContractNegotiations #HowtoNegotiateBetter #ContractLaw #AMSTLegal #contracts #negotiation #negotiationskills #relationshipbuilding

by reggers.robby

Legal in the Lead when improving Contract Templates

by reggers.robby

NDAs Explained – What You Need to Know (part 1)

NDAs ensure that confidential information is used solely for the specified purpose set out between the parties in a business relationship. In the world of business, where ideas, innovations, financial information and secrets are the keys to success, Non-Disclosure Agreements (NDAs) often play an important role in protecting a company’s confidential information. This article will provide a comprehensive overview of NDAs in the context of Business to Business (B2B) dealings.

What is an NDA?

An NDA, also referred to as a Confidentiality Agreement, is a legally binding contract between two or more parties to protect confidential information which may be shared during the course of their business relationship. More specifically, confidential information is non-public information of a company that could harm the company when it would be shared in public. Usually a list of the Confidential information is included in the NDA, containing for example: trade secrets, know-how, products and technology-related information, discounts, customer lists, sales and financial information, business plans, etc.

Why and when do we need an NDA?

In the B2B context, NDAs can be an essential tool for protecting proprietary knowledge, trade secrets and other confidential data that is important for a company to maintain its competitive advantages. That sensitive information, therefore, should be defined clearly and carefully in NDAs. However, be careful not to define it too narrow to ensure that you have not missed an important category. By using a properly drafted NDA, your company can secure valuable information from competitors or other third parties who may benefit from the disclosure of such information.

Primary objective

The primary objective of an NDA is to ensure the disclosed sensitive information is securely used and handled, preventing its use or disclosure without proper permission and authorization by the disclosing party. An NDA is often signed at the beginning of a business relationship or before entering into a business relationship.

Example

Common example: a technology company is planning to sell and offer specialized software solutions to an enterprise customer. The companies start by discussing how to integrate the software into the customer’s systems to ascertain the price for the integration and the use of the software. For this, the technology company might share insights about their pricing, SLA, policies and software, and the customer, in turn, might explain their challenges and share business plans. While doing so, the companies therefore plan to share documents including non-public, hence confidential information. This is why it is advised that these companies sign an NDA before sharing this confidential information to each other. Such an NDA can be terminated when the parties sign a final customer contract, which should also include confidentiality terms.

How does an NDA protect your confidential information?

Like any other legal contracts, an NDA carries important legal consequences for breach of contract. Depending on the severity of a breach, its consequence can range from lawsuits, financial penalties to – in extreme cases – criminal charges. Breaching an NDA can also harm a party’s reputation, which may lead to other long-lasting consequences to its business, especially in business relationships and industries where trust and confidentiality are crucial.

Claims and lawsuits relating to a breach of an NDA are not common, but it absolutely happens that a company needs to pay out a penalty for breach of confidentiality. We have even advised on this matter a few times in the past.

What type of NDA do you need?

There are various types of NDA that can be used based on the specific circumstances and the needs of the parties involved. Below are the three common types of NDA:

• Unilateral NDA (One-sided NDA): In a unilateral NDA, one party, typically the seller, imposes on the other party the obligation to secure the information and not to disclose or use the information for any purpose other than what is specified in the agreement. In a B2B context, unilateral NDAs are often used between buyers and sellers. For instance, a Biotech company (seller), may employ a unilateral NDA to prevent the buyer from disclosing sensitive information they have gained during the purchase of products or services, such as intellectual property and computer technology. Also common in Public Tenders and for RFI (Request for information) in RFP (Request for Price) situations.
• Mutual NDA (Two-sided or Mutual NDA): A mutual NDA involves two parties, and both parties will be sharing sensitive information with each other and agree that both sides will be bound by confidentiality obligations. Mutual NDAs are frequently used when the parties need to exchange considerable amounts of confidential information during their negotiations or business relationship. Such situations can be Joint Ventures, Vendor Contracts or Mergers and Acquisitions.
• Multilateral NDA (Three or More Parties NDA): A multilateral NDA includes three or more parties, where at least one party shares sensitive information with other parties and enforces confidentiality obligations. This type of NDA streamlines the paperwork and administration for the parties in a sense that the parties do not need to enter several unilateral or bilateral NDAs with one another. In a business relationship involving three parties, where all anticipate disclosing confidential information, a single multilateral NDA can replace the need for three different bilateral NDAs between each pair of parties. Such situations can be Partnerships, Government Contracts (like defense and aerospace contracts) and Consortium Agreements.

by reggers.robby

Canadian Court Recognizes👍as a Contract Agreement

As far as we are aware, a Canadian Court has made a first of its kind ruling relating to the acceptance of an emoji as a contract agreement. This is an interesting judgment to illustrate the developments relating to the acceptance of digital ways to approve contracts.

What was the verdict?

The Canadian Court Ruled that a 👍 Emoji Counts as a Contract Agreement. For details, please see https://lnkd.in/gyBrSAdn

The judge stated, amongst others, the following: “This court readily acknowledges that a 👍 emoji is a non-traditional means to ‘sign’ a document but nevertheless under these circumstances this was a valid way to convey the two purposes of a ‘signature’,” he wrote.

Correct decision?

What seems like an unusual verdict, actually makes a lot of sense looking at the facts in this specific case. After talking to each other on the phone, Kent (the Buyer) sends a copy of a contract as an offer to deliver the goods to him via text to Chris. Chris responds with a thumbs up.

Trend for the future

Without knowing the full background, this indeed looks like an agreement to enter into a contract (and agreeing to the contents of the contract). At least under Dutch law, depending on the circumstances of the case, this could reasonably be seen as entering into an agreement.

This is in line with other verdicts in the past years where offers and acceptance of these offers (agreement to contract) are accepted in digital form by e-mail, SMS, WhatsApp and other tech solutions like DocuSign etc. It is an important realization for everyone that the digital world is evolving and we need to adapt!

Lesson Learned

Next time you respond with (for example) 🚀 ✅ ✔️👍🏾🙏🏼 to a question or request to agree to an offer, be very mindful of your intentions.

by reggers.robby

How to roll-out a new Contract Template #6 – Meetings

Introduction

Last but not least! Here is part 6 and last part of my tips on how to roll-out a new Contract Template as an Expert.

Once you have sent out the new templates, these next steps are most important to ensure that the team will really use the templates. In this part of the series ‘How to roll-out a new Contract Template #6 – Meetings’ we focus on meetings and training sessions you should set up with your team.

How to roll-out a new Contract Template #6 – Meetings

𝗧𝗮𝗸𝗲 𝘁𝗵𝗲𝘀𝗲 𝗳𝗼𝗹𝗹𝗼𝘄-𝘂𝗽 𝗮𝗰𝘁𝗶𝗼𝗻𝘀 𝗮𝗳𝘁𝗲𝗿 𝗿𝗼𝗹𝗹𝗶𝗻𝗴 𝗼𝘂𝘁 𝘆𝗼𝘂𝗿 𝗻𝗲𝘄 𝗖𝗼𝗻𝘁𝗿𝗮𝗰𝘁 𝗧𝗲𝗺𝗽𝗹𝗮𝘁𝗲

By following these last steps when sending out contract templates, you can optimize the contract management at your company. Consequently, this will create a more efficient and effective working environment with less discussions about the templates. If you train the teams well and empower them sufficiently you will also see that the negotiation process will run much smoother.

𝗦𝗲𝗽𝗮𝗿𝗮𝘁𝗲 𝗺𝗲𝗲𝘁𝗶𝗻𝗴𝘀 𝘄𝗶𝘁𝗵 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁

Address and discuss the goals of the new Contract Template and raise specific concerns and considerations, engaging key stakeholders individually.

Full team meetings:

Provide comprehensive explanations of new templates/policies, emphasizing their purpose, benefits, and alignment with company goals.

𝗧𝗿𝗮𝗶𝗻𝗶𝗻𝗴 𝘀𝗲𝘀𝘀𝗶𝗼𝗻𝘀

Train and empower colleagues with the necessary skills and knowledge to implement the contract templates effectively.

Centralized document access

Establish a user-friendly location for all internal standards, guiding team members to easily find necessary documentation.

𝗥𝗲𝗴𝘂𝗹𝗮𝗿 𝗺𝗼𝗻𝗶𝘁𝗼𝗿𝗶𝗻𝗴

Check awareness, adherence, and effectiveness of procedures, identifying areas for improvement and ensuring compliance.

Support and guidance:

Offer ongoing support to help guide your colleagues by proposing one on one meetings and training sessions.

𝗙𝗲𝗲𝗱𝗯𝗮𝗰𝗸 𝗳𝗼𝗿 𝗶𝗺𝗽𝗿𝗼𝘃𝗲𝗺𝗲𝗻𝘁:

Create opportunities for feedback to drive future enhancements. Actively ask your team members for feedback in the training sessions and meetings mentioned above.

Conclusion

As legal professionals, we play a vital role to improve compliance, efficiency and risk mitigation. By implementing these tips, we create a more productive and legally sound workplace with the ultimate goal: more fun at work and driving success for the company. Most importantly, when doing so, we work together with the other teams and we do not only dictate what they should do.

Easier said, this way:

• You will waste less time in trying to (i) find the right template or (ii) figure out how to use it or who to involve when you have issues
• Your colleagues at the Legal department will have more time to dive deeper into your legal issues and have more time to negotiate and advise you from a legal and strategic point of view
• The other teams of the company will feel more involved- it will be very hard for your colleagues to say that they do not know where to find the Contract Templates (sound familiar?)
• Your Contracts will be signed quicker!

To see the other parts in this series, go to: bit.ly/amstlegal-blogs