Tag: Contract Lifecycle Management

Contract management strategy: a plan your team will follow

This guide explains how to build a contract management strategy, with practical steps, a one-page example, and common mistakes to avoid.

CLM vs CRM: what each does and how they connect

CRM tracks the customer and the sale. CLM (contract lifecycle management) handles the agreement behind that sale, from the first draft through signing, renewal, or termination.

Contract authoring: process, tools and software

Contract authoring is the work of creating a contract, from the first draft to the version that is ready to sign. Most teams no longer write contracts from scratch. They start from approved templates and clauses, fill in …

Contract compliance: meaning, risks and monitoring

Contract compliance means that every party does what its contracts say, on time, and that the contracts themselves follow the law and the company’s own rules. It is less about signing the right contract than about …

Clickwrap

Clickwrap agreements are clickable elements that confirm users’ agreement to the terms of a website or application. They are commonly used for online agreements that users agree to and click on a button or checkbox.

Contract automation

Contract automation eliminates manual work in Word documents and lets you create legally compliant contracts automatically.

Contract lifecycle

Contract lifecycle is the process of tracking and managing every aspect of a contract for performance, compliance, and other success factors - from execution through renewal or expiration.

Legal SaaS

Legal SaaS is a collective term for software that deals with the digitalization of processes in legal departments or law firms. It includes many different types of software, from case management to billing to contract …

Redlining

Redlining is the process of editing a contract where two or more parties negotiate or collaborate. The goal is to produce a joint document that satisfies all parties.

What is a contract repository? Definition and benefits

A contract repository is a place where contracts are stored. In the past, it was usually a physical location where originals and copies of paper documents were stored. Nowadays, it is understood as a digital storage of …

What is a licensing agreement? Types, key terms and examples

A licensing agreement is a contract in which the owner of intellectual property (the licensor) allows another party (the licensee) to use it on agreed terms, usually in return for a fee or royalties. The licensor keeps …

What is CLM? Contract lifecycle management meaning and stages

Contract lifecycle management (CLM) is the effective management of contracts and relationships between organizations through proper planning of all phases of contract management, resulting in the reduction, elimination …