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CLM Glossary

From contract initiation to execution, this guide is crafted to assist contract professionals in grasping the nuances of contract lifecycle management.

All A B C D E F G H I J K L M N O P Q R S T U V W X Y Z


Amendments refer to changes or modifications made to the original contract terms after it has been executed. These changes may involve adjustments to pricing, delivery schedules, or other contractual elements.


Analytics is the use of data analysis tools to gain insights into contract performance, trends, and other relevant metrics. It helps organizations make informed decisions, optimize processes, and enhance overall contract management efficiency.

Approval Workflows

Approval workflows are predefined processes that dictate the sequential steps and individuals involved in reviewing and approving contracts. It ensures a systematic and organized approach to obtaining necessary approvals throughout the contract lifecycle

Artifical Neural Network (ANN)

An artificial neural network (ANN) is a machine-learning model inspired by the human brain’s neural structure. It consists of interconnected nodes, or “neurons,” organized into layers that process and analyze data to solve complex problems. ANNs are commonly used in various domains, including contracts, to model patterns, make predictions, and automate decision-making processes.

Artificial Intelligence

Artificial intelligence is the application of advanced computational algorithms to automate and enhance various aspects of contract management. AI can assist in contract review, risk assessment, and decision-making processes, improving overall efficiency.


Assessment is the evaluation and analysis of contracts to determine their compliance, risks, and overall performance. It helps organizations make informed decisions about the status and effectiveness of their contracts.

Association of Corporate Counsel (ACC)

The Association of Corporate Counsel, founded as the American Corporate Counsel Association in 1983, is a professional association serving the business interests of attorneys who practice in the legal departments of corporations, associations and other private-sector organizations around the world. ACC promotes the common professional and business interests of in-house counsel through information, education, networking opportunities, and advocacy initiatives.

Assumptions and Dependencies

Identifies any assumptions made during the creation of a SOW and dependencies that may impact the successful completion of the work.