How lawyers & paralegals can add value after contract execution Contracts Signing after.

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Presentation transcript:

How lawyers & paralegals can add value after contract execution Contracts Signing after

Copyright All rights reserved.

2 Documents Data into turn Copyright All rights reserved.

What? Why? How? Turn documents into data Identify all dates expiration fixed and relative dates Categorize obligations required prohibited permitted Describe flow of money revenue and expenses payment type amounts (%, $) More… Generate actionable reports Drive business processes Perform analysis Manage risk Copyright All rights reserved.

4 Automatic Alerts set Copyright All rights reserved.

Set automated alerts Set date driven alerts reuse dates data SMTP & DB integration Make alerts global expiration auto-renewal insurance certificates Set contract specific alerts high visibility contracts high risk contracts high impact contracts More… Prevent missed deadlines Preempt auto-renewals Improve client contact Notify clients of milestones Copyright All rights reserved. What? Why? How?

6 Legal Risks identify and measure Copyright All rights reserved.

Identify, measure and manage legal risks Categorize legal risks structural regulatory contractual litigation Measure likelihood list events or causes quantify probability Measure consequences quantify financial loss quantify occurrences More… Quantify legal risks Prioritize risk mitigation Calculate risk prevention Focus organization Copyright All rights reserved. What? Why? How?

8 Compliance Obligations show Copyright All rights reserved.

Show compliance obligations Identify key sources statutes regulations court cases Store requirements with contract provisions Schedule compliance reviews review contract activity record reviews in contract management system More… Expose hidden risks Manage compliance risks Calculate compliance risk Track compliance reviews Copyright All rights reserved. What? Why? How?

10 Categorize Provisions and track Copyright All rights reserved.

Categorize and track provisions Categorize provision types performance warranty notice, etc. Categorize obligations required prohibited permitted Assign obligations to party More… Improves contract value Maintains risk allocation Exposes contract detail Reveal legal advantage Copyright All rights reserved. What? Why? How?

12 Contracts Perspective in keep Copyright All rights reserved.

Keep contracts in perspective Report expiration dates by category by counterparty Report performance obligations Analyze portfolio risk More… Evaluate individual v. collective risk Measure value of entire contract portfolio Identify financial consequences in portfolio Copyright All rights reserved. What? Why? How?

Copyright All rights reserved.