There’s a lot of value in your contract data, as Cimplifi discusses in their latest post. Here are some examples and how to unlock that data.
In their post titled Unlocking the Value of Your Contract Data (available here), Cimplifi discusses eleven key elements to pay close attention to in your contracts. Understanding these elements can help in negotiating better terms, avoiding legal pitfalls, and leveraging the contract for maximum benefit. To understand these critical elements, you need to extract this information from your contracts. Here are two of them:
Parties Involved: Know who exactly is bound by the contract, including any subsidiaries or affiliates. This helps in understanding responsibilities and entitlements.
Scope of Work or Deliverables: Clearly defined expectations help prevent misunderstandings. It’s important to know what services or products will be delivered, how, and when.
So, what are the other nine key elements to pay close attention to in your contracts? And what’s the “new” way to unlock the value in your contract data? Find out here, it’s only one click! You don’t need a key to unlock this information! 🙂
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So, what do you think? How are you unlocking the value in your contract data? Please share any comments you might have or if you’d like to know more about a particular topic.
Image created using GPT-4’s Image Creator Powered by DALL-E, using the term “robot inserting a key into a door lock where the door has the word “Contracts” on it”.
Disclosure: Cimplifi is an Educational Partner and sponsor of eDiscovery Today
Disclaimer: The views represented herein are exclusively the views of the author, and do not necessarily represent the views held by my employer, my partners or my clients. eDiscovery Today is made available solely for educational purposes to provide general information about general eDiscovery principles and not to provide specific legal advice applicable to any particular circumstance. eDiscovery Today should not be used as a substitute for competent legal advice from a lawyer you have retained and who has agreed to represent you.