While the altruistic aspects of practicing law are important, lawyers must remain mindful that a law practice must turn a profit to survive.
A corporation’s bylaws, also called company bylaws or just bylaws, are a legal document setting forth key rules and regulations governing the corporation’s day-to-day operations.
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.