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 real estate 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 […]
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What is a SOW (statement of work) and how to write one?
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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How to Write 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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Drafting Advice: Understanding Exemption and Exclusion Clauses
Types of Exemption Clauses Businesses use contracts to govern sales of goods or services; however, every business knows that the risk inherent in each transaction does not end after payment is made and goods or services are delivered. The parties to a contract will each seek to restrict the amount of liability for which they […]
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