CLM Fundamentals For In-House Counsel: Key Steps For Ensuring A Smooth CLM Journey

Contract management is one of the most important services delivered by in-house counsel to their organizations. Contracts touch every part of the business, and its often the main sector of interaction and integration between the business and the legal department. How contracts are structured, accessed, and shared with the business, as well as the overall process by which they are negotiated and ultimately executed is called contract lifecycle management, or “CLM” for short.

Getting CLM right is of crucial importance for in-house counsel. A clunky, inefficient, unpredictable, and frustrating CLM process reflects poorly on the legal department. On the other hand, a simple, smooth, efficient and predictable process reflects well on the legal department and is the standard by which all legal departments should strive for.

Given the critical importance of CLM, In-House Connect is thrilled to feature Lucy Bassli, author of CLM Simplified and the Founder and Principal of InnoLaw Group, PLLC. Lucy has spent most of her career as a commercial transactions lawyer, both in big law and inside a global legal department – so she has seen it all when it comes to contracts. Over the years, Lucy has learned through trial and error the ways to make contracting simpler, smoother, and more predictable for the business.

Tune into the first event in our CLM Fundamentals Series, as Lucy will:

– Provide an overview of the current state of CLM industry;

– Review the phases of CLM and where in-house lawyers should be spending their time;

– Provide tips for creating an effective legal review policy based on thresholds and risk tolerances; and

– Provide best practices for allocating responsibilities across the lifecycle to define where business owners can be empowered so in-house lawyers can focus on other tasks.

Viewers will come away from the program with an understanding of CLM and practical tips and guidance for improving their own CLM processes.



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