Ask General Counsel: Why your business or nonprofit needs a contract management solution | Business

In this version of Talk to Standard Counsel, General Counsel, Laptop, a law company in McLean that due to the fact 2004 has been symbolizing firms, nonprofit entities and persons during the Washington location, discusses the value of obtaining a contract management remedy – and presents its clients a remedy for cost-free.

What is contract management Deal administration is the process and treatments utilized to keep track of agreement deadlines, notice prerequisites and other key phrases and ailments. 

Why is agreement management essential?  Without the need of a process, it is most likely that essential deal conditions will be neglected or missed.  For illustration, most contracts have termination provisions that provide that the agreement will renew for an further expression unless of course, at minimum 90 times prior to termination, notice is presented of intent to terminate.  If these dates are not tracked, it is possible that this notice necessity will be skipped, and the contract will renew for an more expression.  This could consequence in major (undesired and pointless) price tag and/or legal responsibility.

What contract management solutions are out there There are several solutions, ranging from self-designed spreadsheets and calendar deadlines to costly computer software solutions.  Right after several years of observing our regulation firm purchasers with no sturdy contract management options, we researched offered selections and pick out ContractWorks as a resolution to offer to our shoppers.

Cost-free deal administration answer for General Counsel consumers. A agreement management resolution is only important if used. Additional, for lots of small firms, the expense of a deal administration remedy would be selling price prohibitive (many remedies get started at an once-a-year value of $10,000 or additional). Having said that, Common Counsel is giving ContractWorks absolutely free to its purchasers as an built-in element of our authorized companies to assistance customers to manage, research and observe vital contract specifics, keep in advance of obligations and hardly ever miss out on renewals or termination deadlines.

Common Counsel has been aiding consumers draft, revise, negotiate and, when important, litigate contracts because 2004.  We consider that by providing ContractWorks free of charge of charge to our clients, it will help our lawyers far better serve our consumers and, most importantly, will enable our clientele acquire manage of their contracts.  Irrespective of whether a business or nonprofit entity, obtaining improved insight into your contracts and tracking vital phrases and deadlines will offer an advantage, ensuing in price price savings.

If you are an existing Standard Counsel customer, you will be receiving details on how to start off using ContractWorks.  If you are not a present consumer but are interested in learning about our business and making use of ContractWorks, get in touch with Merritt Green, General Counsel’s founder and controlling spouse, at [email protected]

About Common Counsel Pc:  Launched in 2004, Basic Counsel Laptop signifies firms, nonprofit entities and people today in the course of the DC Metro spot (and beyond).  We have 6 (6) major observe places to ideal provide our consumers: (1) Small business (2) Employment (3) Dispute Resolution / Litigation (4) Government Contracts (5) Estate Arranging / Probate and (6) Family Law / Divorce.  For more information, you should check out our web-site,, or electronic mail us at [email protected] or [email protected].  

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