Subscribe to receive our free report on contract compliance

Learn how contract compliance can improve profitability.

Please let us know your email address.

Berkman Insights

Read the lastest insights on legal risk, contract management, corporate goverance, and more.

General Counsel - Contract Process or Risk Management?

General Counsel - Contract Process or Risk Management?
General counsel must find ways to both manage contract risk and increase contracting productivity on a limited budget. General counsel are often flooded with contract requests. Sales people, business managers, and executives mutter about lawyers being the “business interruption team” while the general counsel tries to balance their competing objectives: fast contracts and careful risk management. No legal department wants to be the bottleneck for contracts.

Company Organizational Charts: Quick Tips for Lawyers

Company Organizational Charts: Quick Tips for Lawyers
When is a business, a business? Rarely. The moment a business owner has an investor, partner, or shareholder there are, at least, three “legal entities”: the owner, the investor, and the business legal entity itself. A legal entity refers to the legal form of the organization. Corporations, limited liability companies (LLCs), and partnerships are the most common examples in the United States. Some organizations consist of hundreds (or even thousands) of separate legal entities. The corporate organizational chart (“Org Chart”) presents these simple and complex entities in a single view.

When will this contract end?

When will this contract end?
It can be surprisingly difficult to know when a contract ends. This article explains how to classify contract terms. For effective contract management, we need to know when to set automatic alerts and notifications. The contract termination date is critical to contract management.

Quick start guide to contract management

Quick start guide to contract management

A new year brings a fresh opportunity to get control of your contracts, finally. Contracts are often “filed and forgotten.” Sales or revenue generating contracts expire unexpectedly, while expense contracts automatically renew without notice.

You want to get control of contracts to help your colleagues, to grow your organization, and to protect the company. Where do you start when you are staring at so many contracts stored in so many places?

Here are practical steps toward better contract management.

3 Keys to Managing Evergreen Contracts

3 Keys to Managing Evergreen Contracts

While many lawyers and organizations prefer to avoid evergreen contracts, evergreen clauses survive in a variety of leases, service agreements, and purchasing contracts. Evergreen contracts create significant long-term risk and opportunity. Careful contract management is necessary to control for contract risk and preserve the upside.

The 20 Minute Risk Manager

The agenda for the quarterly senior management meeting has 20 minutes for "Contract issues." How to make the most of those 20 minutes when there are so many "contract issues" confronting the organization? The 20 Minute Risk Manager outlines how to make an effective risk management presentation.

How to Measure and Manage Legal Risk

Legal risk is one of the most difficult kinds of risk for organizations to measure and manage. This article explains how to define and classify legal risk so that organizations can develop an effective risk management strategy.

Risk Management as a Legal Service

The Economist's March 21st, 2015 article, "Attack of the bean-counters. Lawyers beware: the accountants are coming after your business" identifies a second wave of legal hiring by accounting firms globally. The Economist takes the position that global accounting firms are building internal legal services capacity closely related to their core non-audit lines business. PwC, for example, is now the tenth largest legal services firm by headcount.

Insurance Certificates in Contract Management

Insurance Certificates in Contract Management
Insurance certificates are a critical part contract management. To improve risk management, contracts often require a party to carry certain insurance policies. The risk management benefits of these provisions are lost, unless you track the insurance certificates in addition to the contract.

Contract Management Software: Scheduled Reports

To pull information out of contract management software improves the work of the contract management team, including business lawyers, contract managers, corporate parlegals, and compliance officers. To push insight from contract management software, however, adds value to the entire organization.

6 Steps to Legal Risk Management

"How did this happen?" is the first question every general counsel or compliance officer has to answer once an organization is sued or receives a regulatory sanction of some kind. The answer is that the organization does not manage legal risks systematically as it does other risks. Legal risk remains one of the most challenging and least understood risks to manage.

General Counsel and Contract Management

The role of corporate counsel has evolved to include responsibilities for risk management and business leadership. The demands on corporate counsel are diverse and unrelenting. Organizations are reluctant to increase corporate counsel staff. To meet the demands, corporate counsel must identify risks earlier while providing more value to sales, operations, finance, and the executive team.