How to start Legal Risk Management?

posted in Contract Management, Legal Risk Management

Legal work is all about risk management. It is impossible to ignore the legal risks that have caused significant damage to companies over the past years. In most cases, the material legal risks faced by those businesses were not clearly identified and mitigated. General Counsel are under real pressure to become better at managing the legal risks in the business. Traditionally trained to solve problems in a reactive manner, General Counsel need to invest in time and resources to identify and mitigate the legal risks proactive.

Legality of eSignatures

posted in Contract Management

Customers of EFFACTS are using legally binding eSignature service providers like DocuSign and EchoSign. You can execute contracts and agreements with confidence without the hassle of singing and exchanging paper documents all parties involved. You will avoid these issues:

  • Contracts are not signed by both parties
  • Contracts are signed by unknown officers
  • Contracts are signed without a date
  • Contracts are executed before the signing

Contract Management?

posted in Contract Management

4 KEY QUESTIONS FOR IMPLEMENTING CONTRACT MANAGEMENT SOFTWARE

Question 1

What contracts are you responsible for?

Contract management software solutions are divided in 5 main categories: Enterprise Contract Management software solutions are used for all categories, the other focus on 1 specific category. Within a specific categories, there are multiple niche ICT tools available, ie for Real Estate or IP Rights.

Legal Risk Management

posted in General News

Most General Counsel agree that their principal job should be that of managing risks. This contrasts often with what they actually do: which is fight fires. EFFACTS is happy to support the GRC Subcommittee of LEDES. One of the purposes of this subcommittee is to develop a code set for legal data exchange on GRC matters.