Global banking layoffs are on track to be the worst in half a decade. Surprisingly, it’s not necessarily because of the usual culprits (COVID and the recession). The industry has been tightening its belt for a while now. About half a million banking jobs have been cut since 2014. Banks are citing a need to […]
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The 3 New Metrics Driving Legal Ops Since the Pandemic
In 2019, if you had told a legal operations manager they’d be carrying their organization through a pandemic, global recession, civil unrest, volatile politics and devastating natural disasters, you wouldn’t have been surprised if they quit on the spot. We know now that legal operations professionals are not a luxury. Legal ops departments comprise incredibly […]
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Drafting Advice: Commercial Real Estate Leases
Every business today has an office or storefront with some type of commercial lease. There are many important clauses within these contracts and tracking them manually runs the risk of losing money and important information. There are almost 350,000 businesses in the commercial lease industry generating almost over 500 billion dollars according to IBISWorld. Regardless […]
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How to Write a Statement of Work
A Statement of Work (SOW) is a written agreement that includes detailed specifications of a project or service contract. An SOW is usually found as the following document after a Master Service Agreement. This document functions as the guideline for a single project to be fulfilled by a party and to reduce the chance for […]
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Drafting Advice for MSA Contracts (Master Service Agreements Documents)
Continuing our drafting advice series, we now describe the considerations and best practices for MSA contracts. Before we dive into the details, let’s first understand the purpose of an Master Service Agreement. MSAs are usually found in agreements for the provision of services, such as an agreement to provide information technology (IT) consulting services. An […]
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Contract Management Software for SOX Compliance
The Sarbanes-Oxley Act (SOX) The 2002 Sarbanes-Oxley Act (also known as the SOX Act) was enacted on the heels of major accounting scandals. In order to prevent widespread fraud, the SOX Act contains comprehensive and strict guidelines for regulating companies’ financial reporting. The SOX Act applies to all publicly traded companies, wholly-owned subsidiaries, foreign companies […]
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