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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

Independent Contractor Agreement

An Independent Contractor Agreement is a contract that defines the terms of engagement between a hiring entity and an independent contractor. It outlines the scope of work, compensation, and other relevant details.

Internal Policies

Internal Policies refer to the rules and guidelines established by an organization for its employees and stakeholders. Contracts should align with internal policies to ensure compliance and consistency.

Intent

Intent refers to the expressed purpose or objective behind entering into a contract. Understanding the intent is crucial for drafting and interpreting contract terms accurately.

Intellectual Property

Intellectual Property includes intangible assets such as patents, trademarks, copyrights, and trade secrets. Contracts often address the ownership, licensing, and protection of intellectual property.

Integration Services

Integration services help ensure the CLM platform is properly connected to other enterprise systems, such as CRM or ERP, to ensure data consistency and streamline processes.

Integration

The seamless connection of CLM software with other business systems, such as ERP, CRM, or CPQ, to enhance overall efficiency and data accuracy.

Intakes and Requests

Intakes and Requests involve the formal submission and processing of requests for new contracts or contract-related actions. It includes capturing essential information to initiate the contract lifecycle.

Insurance Requirements

Outlines any insurance coverage that the vendor is required to maintain during the term of the agreement.