Rees Morrison, noted law department management advisor and blogger has launched the largest benchmark survey ever done for law departments. We encourage you to join the more than 300 law departments who have already completed the General Counsel Metrics survey. All participants will receive a complimentary report of the results in July.
We are sponsoring a virtual roundtable discussion featuring a panel of leading experts who will the discuss challenges that Corporate Legal Departments face in trying to reduce risk in their sales contracts. You are invited to attend the complimentary webinar on Tuesday, June 28, 2011 at 11:00 am (EDT).
During our recent webinar, “Managing OTC Derivatives Documentation in a Central Clearing Environment,” we had several questions from the audience that we couldn’t cover in the time allotted. Paul Nelmes of Exari offers the following response to one of the questions posed from the audience during the Web-event.
Following our recent webinar, Managing OTC Derivatives Documentation in a Central Clearing Environment, Julia Schieffer posted a list of her favorite resources for derivatives professionals in search of explanations for some of the jargon used in the derivatives industry.
We have partnered with InsideCounsel Magazine to survey how in-house legal departments assess the effectiveness of their current sales contracts creation and management processes. The survey launched yesterday and will be open for two weeks.
Spring seems to be the season of surveys and we're being alerted to several. Since many of these contracts surveys have a direct correlation to contract creation (document assembly) and contract management, we'll be sharing interesting findings. Where appropriate, we'll also provide links to the surveys.
Compared to the typical environment for bilaterally traded OTC derivatives, central clearing adds complexity through the inclusion of multiple parties and the need to manage different sets of legal contracts. In this new market environment, if documentation management is not streamlined, financial institutions will face increased legal costs and operational risks.
You like to think you're efficient- don't you? Maybe even more so than the next person. These days, efficiency is more important than ever and no where is it more important than in your contracts process.
The legal department generally owns the sales contracts process, but clearly sales management has a stake. While Legal is concerned with reducing risk, Sales is concerned with speed.
On his blog, Law Department Management, Rees Morrison shared that Mark Harris, the CEO of Axiom, referred to a surprising finding from one of his company’s projects. Harris referred to long-term contracts and their “revenue leakage.”