Hidden legal liabilities are everywhere when it comes to contract management. General counsels (GCs) and Chief Legal Officers (CLOs) act as legal superheroes, protecting the organization from hidden threats - and for a good reason. Many organizations have notoriously complicated Non-Standard Contracts that act as a legal team’s kryptonite.
Inheriting these kinds of contracts is both your enemy and the enemy of contract best practices. But never fear! This blog post will help free you and your team from the tyranny of Non-Standard Contracts.
Legal leaders, unite!
Non-Standard Contract Supervillain #1: Time Thief
Arguably the most famous villain of them all, the “Time Thief” gleefully robs you of resources, patience, and work-life balance. This is due mainly to the manual tasks that Non-Standard Contracts create.
To defeat the Time Thief, we recommend a secret weapon: automated contract management. Not only with this help with the volume of contracts you’re working through, but it will also give you hundreds of hours back.
Non-Standard Contract Supervillain #2: The Obfuscator
Legal leaders may be familiar with obfuscation” or the act of creating source or machine code that is challenging for humans to understand. “The Obfuscator '' supervillain is one of the trickiest in non-standard contracts. It throws a proverbial smoke bomb in your face, causing confusion and limiting your ability to focus on the big picture.
To defeat The Obfuscator, you need a reporting system that cuts through the smoke and provides clarity on your agreements. A system that creates actionable, structured intelligence from your legal portfolio is no match for The Obfuscator.
Non-Standard Contract Supervillain #3: Doctor Disorganizer
“Doctor Disorganizer” is the third and final villain, arguably the most powerful ally of non-standard contract tyranny. Without a single source of truth, your contracts and agreements give into the chaos of various legacy systems and homegrown legal tech solutions. When your business grows and your number of contracts increases, Doctor Disorganizer becomes even more powerful thanks to the unmanageable amount of disorganized documentation.
To defeat Doctor Disorganizer, you must implement a centralized repository for your contracts. Once you have a system that helps with legal analysis and accessibility, Doctor Disorganizer is no more.
Understanding the “enemy” is the first step towards a successful defeat. The right tools like an automated contract management system can differentiate between life and death. (Well, not really. But it does make the difference between organized contracts and chaos.)
LinkSquares can be the Robin to your Batman. Learn how contract management software can help restore law and order in your organization by scheduling a demo.
