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In the fast-paced world of business operations, contract lifecycle management (CLM) plays a pivotal role in preventing unnecessary financial losses and boosting operational efficiency. To navigate this complex landscape, Sales, Procurement, Legal, and Finance teams must adhere to a set of best practices that are integral to efficient contract management.
Continue reading “Maximizing Efficiency: A Guide to 10 Crucial Contract Management Best Practices”
Agility is the key to staying competitive in a rapidly evolving business landscape.
Whether you are a small startup or a large enterprise, the ability to adapt quickly to changing circumstances is crucial. This principle extends to all aspects of your operations, including your contracting process. Renovating your contracting process for agility is not just a good idea; it’s a necessity in today’s dynamic market.
Continue reading “Contract Agility: The Key to Success in the Modern Business Landscape”
The role of the General Counsel (GC) has changed dramatically in recent years. No longer simply a provider of legal advice, the General Counsel is expected to be a business leader and strategic partner. They must use technology and data to help their organizations make informed decisions and mitigate risk. Continue reading “The Future of the General Counsel is Being Written by Technology”
The language we use in contracts is carefully chosen to ensure that the terms are precise, unambiguous, and clear to all parties involved. With the advent of generative AI, tools like ChatGPT have become increasingly popular for assisting with tasks like contract drafting and contract review.
Awareness of the potential unintentional bias in these AI-powered tools is important. We can work towards a more equitable drafting process by gaining a deeper understanding of unintentional bias in AI and taking steps to address it.
Continue reading “Unintentional Bias in ChatGPT: Implications for Contract Drafting”
