Because the blame for a covenant violation can ultimately rest on an in-house lawyer, you must take charge of negotiating and complying with financial agreements. This article will discuss the processes that you can use to negotiate and comply with your company's loan documents.
The following outline is intended to provide a short overview of some of the issues discussed at the "Law Departments Adding Value: Structuring and Managing Outside Counsel Relationships and Beyond" conference on March 12, 2009. Includes advice on budgeting, fee structures, staffing and development, communication, and leveraging knowledge.
Hannah and Morton LLP found that using fewer associates enables the firm to add value to their clients in several ways, outlined in this Value Practice piece.
How many times have you experienced the "quick look review"—you know, the one where you get to review a contract 25 minutes before the business people are set to sign it? You don’t want to be the company’s roadblock to revenue, but you need to ensure that your company does not enter into a contract loaded with real risk to the corporation. Read how you can win in this situation and other common, vexing contract negotiation situations.
This Wisdom of the Crowd (ACC members' discussion), provides insight from ACC members regarding contract management systems. Topics discussed include choosing the right product for your law department/company and, building your own system. The resource compiles responses posted on the forums of several ACC Networks: IT, Privacy & eCommerce, New to In-house, and Small Law Departments.
Stephen C. Parker, of Prudential Insurance Company of America, takes a tip from production managers in this discussion of reengineering the legal function.
Business process models ensure a unified purpose in a corporate function, assure consistent quality of service, and direct individuals in their day-to-day activities. This article presents a model for delivering legal services that meets both the corporate vision and the demands imposed by the legal system.
Top ten tips to illustrate how taking a holistic, enterprise-wide view of contract management will aid in striking the balance between risk and business objectives in a timely and efficient manner.
It is important that legal team resources be focused on strategic and revenue generating opportunities. How can the legal department align their resources to risk and growth? If these resources are viewed in terms of a pyramid, a number of options are presented for servicing clients. We will explore considerations to outsourcing higher volume, lower- risk work to free up resources.
Self-service contract creation frees experienced attorneys to work on high value matters. Business users also benefit by getting contracts more quickly. By completing an online questionnaire, information is automatically captured for improved management and reporting and contracts can be generated quickly. Attend this session and let us demonstrate the principles and benefits of self-service contract creation through role-play illustrating the impact on the business and on Legal. Steps in the process will be interspersed with expert commentary by law department practitioners and industry experts.