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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

Activity Feed

An activity feed is a chronological record or log of all actions and events related to a contract throughout its lifecycle. It provides real-time updates on changes, approvals, and interactions, offering a comprehensive view of the contract's progress.

Adaptability

Adaptability is the ability of CLM systems to flexibly accommodate changes in regulations, industry standards, or business processes.

Addendum

An addendum is a supplementary document added to a contract to modify or add specific terms, conditions, or details. In CLM, addendums are used to make amendments to the original agreement without requiring a complete renegotiation.

Adhesion Contract

An adhesion contract, often termed a standard form contract, is a pre-drafted agreement with standardized terms and conditions. In CLM, these contracts may require careful review and customization to align with the specific needs and preferences of the parties involved.

Adobe Sign

Adobe Sign is an electronic signature solution often integrated into CLM platforms. It allows parties to sign contracts digitally, streamlining the signature and approval processes in a secure and legally compliant manner.

Agreement

An agreeement is a legally binding document that outlines the terms and conditions agreed upon by two or more parties. It encompasses the entire understanding between the parties and serves as the foundation for the contractual relationship.

AI-driven Automation

AI-driven Automation involves the use of artificial intelligence to automate tasks and processes in the contracting process, enhancing efficiency and reducing the need for manual intervention.

AI Ethics

AI Ethics involves the study and implementation of ethical principles and guidelines in the development and use of artificial intelligence technologies to ensure responsible and fair practices.