If you work in a corporate legal department, the challenge is likely familiar: outside counsel rates are rising—up 6.5% on average through mid-2024—while your department’s budget stays flat or even shrinks. Most law departments are working with modest annual increases of just 1% to 5%, and some are facing cuts of up to 10%. Meanwhile, […]
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As in-house counsel, you’ve likely witnessed firsthand the chaos that poor contract management can create. Missed renewal dates, buried indemnification clauses that surface during litigation, vendor agreements scattered across departments with no central oversight, and compliance obligations that slip through the cracks. You know that investing in proper contract lifecycle management (CLM) services could transform […]
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Corporate legal departments face an unprecedented combination of modern contract challenges that would have seemed unimaginable just a decade ago. The days when contracts moved through predictable cycles and templates could remain unchanged for years are long gone. Modern legal teams must be both agile and precise while operating at an accelerated pace that shows […]
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Running an in-house legal department today requires navigating unpredictable workloads and rapidly changing business priorities. One day you're managing complex M&A work, the next you're handling routine contract reviews, and suddenly a complex IP dispute demands immediate attention. The traditional approach of hiring permanent attorneys for every possible scenario is proving inadequate for modern business [...]
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In an era of economic uncertainty and shifting market conditions, legal departments face mounting pressure to deliver more with less. While many organizations might be tempted to freeze hiring or reduce legal costs, the most forward-thinking companies are choosing to adapt creatively, especially in how they scale their legal teams. Rather than being constrained by […]
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If you’re thinking about migrating your contracts to a software platform, you already see the value of automated workflows, streamlined processes, and centralized contract authority. Yet whether you achieve those results depends on the quality of your contract hygiene before migration. Maintaining contract hygiene is like bike chain upkeep: it’s essential if you’re going to […]
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Think back to the last legal conference you attended: how many times did panelists say the words “Contract Lifecycle Management” or “CLM”? You probably lost count. These days, CLM systems are treated as the be-all and end-all platform to maximize every stage of the contract lifecycle. Though CLMs are comprehensive, their complexity and abundance of […]
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How attorneys review, summarize, and abstract contracts has undergone some extensive changes in recent years. Technology-assisted structured data reviews changed the game, and now artificial intelligence promises to finish the transition into faster, more efficient, and more detailed contract insights. However, there are limitations to what artificial intelligence can do. At the bottom of any […]
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Strong returns and low risk are the perfect outcome for any acquisition, but it’s not one that’s easy to replicate. Successful programmatic acquirers pinpoint multiple small-to-mid-sized acquisition targets each year and navigate the closing process while generating shareholder value upon completion. What’s their secret to success? The answer depends on who you ask. McKinsey & […]
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Over the last decade, we’ve seen a dramatic shift in how contracts are reviewed, summarized, and abstracted. Our industry started with traditional legal summary memos and moved towards technology-assisted, structured data reviews. Now we’re fully immersed in AI-powered contract review solutions. Despite all the exciting possibilities these tools offer, there is a crucial element that […]
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