Good contracts result from good contract negotiation, which requires a clear understanding of — and focus on — a company’s key objectives in making the contract.
Artificial intelligence (AI) is a term used for a computer-based algorithm that can analyze, strategize, and draw conclusions to complete tasks typically performed by humans.
Contract management is the act of preparing, negotiating, analyzing, implementing, and maintaining contracts. Even though a contract has been signed, it doesn’t mean all the hard work is done.
Humans have long dreamed of making machines do what brains do. Technology has gone a fair distance in that direction with artificial intelligence (AI), which puts software to work in order to improve the contract review process in several important ways.
Contracts establish transparent and professional partnerships between companies and individuals. However, it’s vital to have an exit strategy. Termination clauses are critical to sound and enforceable contracts, but they can be tricky.
Contracts govern nearly every aspect of day-to-day life in ways one may not even realize. From accepting the Terms and Conditions of an app on our smartphones to haggling over prices at a neighborhood yard sale, contracts are a fundamental part of modern life.
Non-disclosure agreements (NDAs) are confidentiality contracts that allow businesses to entrust confidential information to others. They’ve been in the news lately as a way to cover up sexual harassment issues and whistleblower claims.