Seven Tips To Draft A Balanced Contract That Speeds Up Deals
Seven Tips To Draft A Balanced Contract That Speeds Up Deals
Seven Tips To Draft A Balanced Contract That Speeds Up Deals
And, “time kills all deals” is a phrase we’re all too familiar with because
that’s precisely what happens when you go down this path. Legal ends
up becoming the deal-killer, all because you couldn’t zoom out and see
the bigger picture. In reality, closing deals is a team effort.
Here’s how to avoid this and lead with balanced contracts instead.
1. Align with key stakeholders on your
company’s risk profile.
Before you start meddling with your contract, you need internal alignment. As
the lawyer representing your company, it’s important to zero in on what your
business actually cares about. What are your negotiables and non-
negotiables? Talk to your business peers, and your leadership, and arrive at a
list.
“You must ensure that all three pillars—legal, security, and privacy—are
addressed in your contracts and documentation. You have to be able to speak to
these people’s concerns ahead of time and try to educate and pre-negotiate so
you don’t end up in a long sales cycle – you want to make it as easy as possible
for people to give you their money.”
ditch the legal tug-of-war and aim for contracts that pave the way for quicker
handshakes and happier partnerships.