CASE STUDY: How GNT Group builds a legal department using effacts

posted in Contract Management, Entity Management, General Counsel, Legal Risk Management, Legal Technology

Along with company growth comes the growth of obligations, and of course risk. That’s why a company starting out as a small local operation and growing into a large multinational soon finds themselves lacking the legal support they need. And then comes the question of how to set up the first legal department and exactly what is required. A perfect […]

Identify a data breach vulnerability and limit liability

posted in Cybersecurity, Data Privacy, Legal Risk Management

As Legal Counsel, you are a key player in your company’s data protection processes. Whether you work alone or in collaboration with Compliance and Data Protection Officers, it is imperative you manage your company’s legal information to minimise legal risk created by cyber attacks and data breaches. Data breaches not only affect your company’s bottom line, but if regulators and […]

The growing role of the GC in preventing data breaches – being proactive, not reactive

posted in Cybersecurity, Data Privacy, General Counsel, Legal Risk Management

Data security is a growing focus for companies and it is no longer just an IT issue. According to a Legal Week Intelligence report, nearly 50% of General Counsel say planning for cyber-security incidents and responding to breaches is now part of their job – a figure that is likely to go up as the role of the GC expands […]

Coping with Brexit and Regulatory Change: how tech can help

posted in Events, General News

On May 1st Wolters Kluwer hosted a half-day event, “The Changing Role of the GC: A Proactive Approach to Challenges in Legislation & Technology,” for over 20 in-house professionals at the BMA House in London. Subject-matter experts shared best practices on dealing with regulatory issues including Brexit and how technology can help GCs assess Brexit-related risks and boost their effectiveness. […]

CASE STUDY: How MSD improves contract management with effacts

posted in Cloud technology, Computable Contracts, Contract Management, Entity Management, General Counsel

For companies operating several departmental databases, there is the prevalent issue of decentralized contract management whereby contract information is scattered around the buisiness. And should a potential investor come along or a merger take place, that issue becomes a big problem – especially for the legal department. This very well could have been the case for Elisabeth Hondius, legal head […]

What in-house lawyers need to know about IFRS 16 – the new accounting standard affecting leases

posted in Legal Risk Management

The International Accounting Standards Board (IASB) has published International Financial Reporting Standard (IFRS) 16 – the new accounting standard concerning commercial leases which comes into effect on the 1st of January 2019. Superseding the International Accounting Standard (IAS) 17, the IFRS 16 rules are set to change the way long-term leases are treated on company balance sheets. Virtually all companies […]

CASE STUDY: How Citizen M improves productivity across entire organization using effacts

posted in Contract Management, E-signature technology, General Counsel, Legal Technology

Many General Counsels find themselves inundated with administrative tasks, thereby taking them away from assuming a more proactive role in the business. All too familiar with this predicament, Hein Bijl – General Counsel of Citizen M – was glad to see the back of spreadsheets and manual processes when the company adopted a smart legal repository for managing all their […]

How to calculate your business risk using a Risk Assessment Matrix

posted in Compliance Management, Entity Management, General Counsel, Legal Risk Management, Reporting

Pulling together a risk management plan for your company is no easy feat. Firstly, you need to properly identify the full gamete of risks that could impact your business. Then gathering and compiling all the necessary information requires time and resources. But arguably the most important step of all is calculating the level of risk by creating a Risk Assessment […]

Due Diligence Report – Real Estate and IP – proving your net worth

posted in Compliance Management, Contract Management, Entity Management, General Counsel, How-to, Reporting

Think you could turn around a prompt and thorough due diligence report verifying your company’s net worth if a potential investor or buyer came along? It is estimated that every year 7.5% of all company documents are lost and 3% are misfiled at a huge aggregate cost to businesses to locate or recreate these files. Not to mention that failure […]

Due Diligence Reporting – commercial records & contracts, claims & compliance – are you ready?

posted in Compliance Management, Contract Management, Entity Management, General Counsel, Reporting

Whether you’re a start-up or working for a well-established enterprise, one day you could find yourself lumped with the onerous task of due diligence reporting for a potential buyer or investor – and you’ll want to be prepared. If the preparation of due diligence falls on the CEO, CFO or sole Legal Counsel, it always pays to have a checklist of the […]