Defined terms are a ubiquitous part of a contract and demand as much attention as the substantive clauses. This article provides on tips on how to structure and use defined terms throughout contracts.
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For the love of redlines.
Contract Nerds provides a home for all things contracts, by and for attorneys, procurement specialists, and contract negotiators.
The Secret to Negotiating a Non-Negotiable Service Level Agreement (SLA)
SaaS vendors commonly claim that their SLAs are non-negotiable. That is usually not true. With the right combination of negotiation strategies and subject matter expertise, you can find the penetrable soft spots and land better SLA legal terms for your clients. This article will show you how.
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Contemplating a Transition From BigLaw to In-House? 5 Tips from a Lawyer Coach
While the transition from BigLaw to In-House may seem straight-forward, the reality is that the two practices vary in significant ways. Before you take this leap, or if you already have, you should be aware of the differences and work on bridging the gap. These are the five key areas that a lawyer coach recommends on working on to truly thrive.
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10 New Year’s Resolutions for All Contract Nerds
The year 2020 has brought contracts to forefront of the legal community in a very important way! Collectively, we #contractnerds have raised more awareness about the importance of drafting clearer contracts, negotiating better contracts, and managing contracts better with technology. Check out these 10 New Year’s Resolutions for All Contract Nerds for 2021.
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Expediting the Negotiation of Clinical Supply Agreements During a Pandemic
During a pandemic, how can healthcare attorneys deal with the deluge of clinical supply agreements in a timely manner? By obtaining stakeholder feedback on key clauses, such as: returns, risk of loss, and list of supplies.
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The Use of Augmented Reality in Contracts
Consider the advancements of online banking and online shopping – why does it feel like legal services are years behind? To help bring technology to the law, we created virtual plain-language annotations within contracts viewable in Augmented Reality (AR) to make contracts more user-friendly and interactive.
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Contract Redlining Etiquette – Rule #4 on Calls
Now that you’ve exchanged redlines with your counterparty, it is time to switch to live negotiations via a phone call or virtual meeting. The goal of the contract negotiation call is to close out the remaining open items and move the contract forward towards a final agreement.
How can you run the call as efficiently as possible to achieve this goal? Follow Rule #4 on Running Calls.
How In-House Lawyers Can Harness the Power of Personal Branding for Career Success
“Hey Charlotte, I understand why attorneys in private practice need a strong personal brand, but I’m an in-house lawyer. Why does it matter to me?”
Creating a strong personal brand is crucial to career success. Period.
Whatever the economic climate. Even if you are happy, motivated, safe and secure in your role – personal branding is […]
How to Spot and Solve Implicit Language Bias in International Contracts
Ever notice that contracts are always drafted in English? Implicit language bias occurs in contracts when the contract drafter assumes the other party is as fluent in English and English “legalese” as the contract drafter. If you’ve ever thought this to yourself, “Wow, their English is surprisingly really good!” then you probably have implicit language bias.
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Three Contract KPIs You’re Measuring Incorrectly
One major benefit of contract management technology is the ability to collect, track and report on contract metrics such as contract volume, turnaround time, and value. Read this article to learn how to make sure you’re tracking contract KPIs correctly.
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CONTRACTS EDITION
DO THIS
Know your company’s procurement and purchasing processes.
NOT THAT
Assume that these processes are not relevant to the contract review process.
WHY
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