CounselLink® Blog
Put Technology on Top of the Spring-Cleaning Checklist to Make Your Legal Department Run Efficiently
The office is often worse than home with paper (yes, there’s still paper) files collecting dust in the corner, digital files spread among remote storage, digital folders, portable hard drives, and the cloud. Add overflowing email in-boxes, folders and bookmarks to the mix, and who has time to organize their technology?
READ MORELegalweek 2024 General Counsel Workshop Insights
During Legalweek 2024, LexisNexis® CounselLink® and ALM sponsored a first-of-its-kind General Counsel workshop for CLE credit.
READ MORELegalweek Panelists Discuss the Future of Contract Lifecycle Management and AI
The emergence of Contract Lifecycle Management (CLM) as a powerful tool, especially with the integration of Generative Artificial Intelligence (Gen AI), opens new possibilities for corporate legal departments that traditionally utilize Enterprise Legal Management (ELM) systems like matter management and legal spend management.
READ MOREIncorporate Data-driven Analysis to Improve Reporting that Advances the Corporate Legal Department
Proving value in the legal department comes with being proactive and demonstrating ways the department is efficient, saves money, minimizes exposure, and partners with business units. Then, the true value of the legal department can be showcased. To get there from here, however, proof of value requires data-driven analytics.
READ MOREWhy Large Law Firm Fees Are High and Getting Higher
The economic outlook is like a spinning top, creating uncertainty among corporations, investors, shareholders, and legal departments. The trickle-down effect puts Chief Legal Officers and General Counsel squarely in the crosshairs of troublesome rising outside counsel fees, among other negative factors affecting budgets during this rolling recession.
READ MOREManage Outside Counsel Vendors
with an Advanced Enterprise Legal Solution
In the dynamic landscape of legal operations, making informed decisions to manage outside counsel vendors and other external legal service providers is crucial for ensuring the success of your organization.
READ MORE4 Tips for Lawyers To Master
The Art of Productive AI Conversations
In a recent conversation among a group of in-house lawyers, one GC shared how she’d used ChatGPT to write a data processing agreement. “Just 25 prompts later, I had an optimized DPA. I’d saved so much time and effort,” she said.
READ MOREFrom ‘It Depends’ to Data-Backed
Answers: Automating Legal Case Analysis
As every lawyer knows, the response to nearly every legal question is, “It depends.” The law is a perpetual “what if” field surrounding unfortunate events and large sums of money. And the higher the stakes, the more clients want to know the likelihood of a positive outcome.
READ MORE7 Key Considerations for Lawyers
Negotiating Contracts for AI Services
Human lawyers will always be crucial for ensuring contracts and licensing agreements related to AI systems and services are comprehensive, clear, and adhere to relevant laws and regulations.
READ MOREHow GCs Can Build A Data-Driven
Division To Bolster Their Company
Corporate legal departments have traditionally kept their focus on supplying legal expertise to the businesses they support; in-house specialists in litigation, employment, privacy, IP, and HR are common. But in today’s digital and virtual world, it has become equally necessary for legal to address the vast amounts of data in their custody and control.
READ MOREThe Importance of Evaluating
Law Firm DEI & Where to Begin
As more and more companies invest in diversity, equity, and inclusion (DEI) efforts, it’s important for legal departments to carefully manage their initiatives that support DEI, and to monitor the DEI initiatives of the vendors they work with.
READ MORECLOC 2022: Diversity, Equity, and Inclusion: Moving Past the Rhetoric
The 2022 CLOC Global Institute Annual Conference showcased the liveliness and energy of its members and the legal ops profession. With over 2,000 attendees, the three-day event sparked conversation, education, and participation.
READ MOREImproving Contractual Relationships with CLM
Improving contractual relationships is sensitive and fragile, especially if you’re contracting with a new party for the first time. You need to be aware of the clauses, risks, and consequences of not meeting obligations. It can ultimately be the make-or-break point for your business’s success.
READ MOREMonitoring Essential Contract Execution
It is practically impossible to ensure successful contract management without effectively monitoring contract execution and performance. It certainly serves as the backbone of your contract management, ensuring all parties fulfill their roles and meet their needs satisfactorily.
READ MORE7 Contract Lifecycle Trends You Can’t Ignore
In a rapidly evolving business landscape, staying in touch with the latest contract lifecycle trends is critical in maintaining competitiveness and compliance. Failing to adapt to changing dynamics could mean missing out on substantial growth opportunities, increased efficiencies and the ability to minimize risks.
READ MOREWhat is a Relational Contract and How It Benefits
If you are thinking of forming healthy and cooperative business relations, then consider a relational contract. Such contracts, increasingly popular, foster better collaboration and transparency while also legally binding the parties to match each other’s expectations and interests. These types of contracts are more challenging to execute. Creating a legally compliant contract without a lawyer can take hours of productive time and may even deliver an unfavorable contract.
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