contract preparation

Ten Things: Help Your Client Get Their Contract Through Legal Quickly

A common complaint you will hear as in-house counsel is “Why does it take so long for you guys to review my contract?” (Second only to “Why are our contracts so long?”)  The answer, as you know, is complicated.  Legal is a limited resource, typically a small team that reviews hundreds and possibly thousands of contracts in any given year.  While a lot of contracts are fairly routine, many involve complicated provisions or transactions with millions of dollars on the line.  Sometimes you have to create a contract from scratch, meaning you do not have a form or something to easily model from.  Frequently, things like litigation or large M&A deals take up substantial amounts of lawyer time — time that cannot be spent on contracts.  Finally, legal will generally prioritize contracts based on the strategic objectives of the business.  Deals that better support the strategy/objectives get more attention more quickly.

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