Tag: Management

Contract management, also known as contract lifecycle management (CLM), is the comprehensive procedure of handling contracts, from creation to implementation and eventually to renewal or termination of the contract. Furthermore, fundamental activities incorporated in contract management comprise clause negotiation and contract drafting, maximizing functional and economic performance, and performance analysis and risk mitigation, both reputational and financial (e.g., business associations get sabotaged by defaulting on contract provisions).

Contract Lifecycle Management (CLM) is streamlining and automating contractual procedures. CLM software offers improved enterprise spending visibility, builds greater contract cycle efficiencies, and reduces administrative expenses. 

Lawyers for contract management certification help with the process of supervising contracts, from their formulation to the designated party's execution and final annulment. A contract lays out legal-enforceable duties between the parties. Having lawyers for business contracts can structure contracts to negotiate business agreements and simplify the process of generating and evaluating contracts.