Contracts form the basis of all business relationships. The process of Contract management involves creating, negotiating and analyzing the contracts to maximize business and financial performance, mitigate risk and protect the client from legal exposure. But as business grows, the number of contracts increases and with it grows its complexity and amendments.
Companies tend to incur heavy costs because of the failure to develop robust contracting procedures. Law professionals are flooded with augmented routine work that requires a significant part of their valuable time. In-house legal professionals more often find themselves weighed down with contract review inquiries. Selective outsourcing is the right way forward to deal with such overload. Lex Process’ specialized Contracts Team can add value to your business by reducing the routine and low-complexity workload on your legal team, freeing them up to tackle the more complex and pressing matters they face.
We can summarize your executed contracts, identify obligations, notification requirements and key dates in order to create or update your contract database. We can also take care of the entire lifecycle of a contract starting from drafting, to reviewing, to negotiation. Our service offerings empower your teams to do more with less at each stage of the contract lifecycle. This will help free your core legal team from repetitive administrative tasks. Our skilled and experienced lawyers have consistently gained the confidence of our international clients in excelling at this art. Some of our optional services include:
- Legal Audit and Hygiene Check of Legacy Contracts
- Contract summarization and abstraction
- Contract redlining, drafting and negotiation
- Online contract repositories with alerts and notification services