Contract Management: Tools for Improving the Process Within Organizations
Analyzing Contracting Responsibilities, Building an Efficient Contract Management Process, Reducing Organizational Risk
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
Intermediate
- work Practice Area
Corporate Law
- event Date
Thursday, February 8, 2024
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
90 minutes
-
This 90-minute webinar is eligible in most states for 1.5 CLE credits.
This CLE course will provide in-house counsel with insights on how best to manage contracts in a high volume, high velocity corporate environment. The panel will discuss how to manage the contract life cycle, including building a contract management program that can help in-house legal departments oversee each step of the process, while also ensuring the involvement of the relevant stakeholders in an organization.
Mr. Harvey practice focuses on global outsourcing, technology, e-commerce and commercial contracting transactions. His practice focuses on information technology, business processes, sourcing and system integration/implementation, e-commerce, commercial contracting and various intellectual property matters. Mr. Harvey also focuses on the implementation and integration of social media, mobile technologies, analytics and cloud computing services (SMAC). He has negotiated, documented and assisted with significant sourcing and other information technology transactions valued at several billion dollars.
Ms. Larkin represents clients of all sizes and geographies, including public companies, private equity-owned companies, family offices and closely-held businesses. She specializes in M&As, financings, investments and buy-outs, advising clients in sophisticated and often transformational transactions, on both the buy- and sell-sides. Ms. Larkin also acts as a trusted advisor to clients, providing strategic advice on a range of day-to-day to break-the-bank legal and business matters. She also counsels clients on corporate governance and regulatory compliance matters, and is experienced in commercial contract negotiation, as well as developing and implementing contract management policies and processes and other aspects of change management in in-house legal departments. Ms. Larkin served as in-house General Counsel for a publicly traded company prior to joining the firm.
In-house counsel is typically responsible for oversight of negotiating, drafting, modifying, and renewing a high volume of various contracts within an organization. Parties involved in the contracting process are often non-legal personnel, using language, forms, and inserts that may evolve over time.
GCs must work with sales, procurement, finance, and compliance departments to develop a contract management process that minimizes legal department involvement while protecting the organization. The best process gives an organization the power to create and monitor contracts faster, smarter, and at a far lower cost while preserving the integrity of company contracts. While contract management may be handled in-house, some law departments are using in-house and third-party vendor solutions to help make the process more efficient.
Listen as our panel discusses the benefits of a contract management program and key features to consider when designing and implementing one.
- Legal department's role in contract management
- Benefits of a contract management program
- Participants in the contract process: sales, procurement, finance, and compliance personnel
- Contract life cycle
- Building a contract management program
- Forms, checklists, and playbooks
- Monitoring amendments, extensions, terminations
- Using technology to manage contracts
The panel will review these and other key issues:
- What factors should corporate legal departments consider when designing a process to make contract management more efficient?
- How can in-house counsel efficiently move contracts through the contract's life cycle while also mitigating contractual risks for the company?
