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Contracts & NDAs

In today’s business culture, contracts (including NDAs) are commonplace and the high volume can be a heavy burden on in-house legal teams and law firms that may not have the capacity to manage them efficiently and in a timely fashion. At Baer Reed, we offer services for contract analysis, contract management, abstraction and summarization, and populating contract databases as well as NDA review, editing, and negotiating. Our legal support team can effectively manage contracts to improve efficiency and improve turnaround times in the contract lifecycle.

Duration The Key Elements of Negotiating an NDA
Thoughtfully negotiating the terms of NDAs can protect your company’s rights and interests, as well as those of the other party. One key element of any non-disclosure agreement is the duration or term. When negotiating an NDA, carefully consider how long the agreement should be enforceable and what should happen to confidential information obtained or...
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Remedies-The Key Elements of Reviewing NDAs
The primary purpose of a non-disclosure agreement (NDA) is to protect a party disclosing confidential information against unauthorized disclosure or misuse of the information by the receiving party. Any ambiguities in the NDA could result in the disclosing party having little recourse if a breach occurs. Because of this potential consequence, reviewing NDAs is important...
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Confidentiality The Key Elements of Drafting a Non-Disclosure Agreement NDA
When drafting confidentiality provisions inside NDAs, attorneys should incorporate language designed to protect their company or clients’ critical business information without making the terms of the agreement too one-sided. Drafting an agreement with language that is too broad may not offer the protection the business needs. Similarly, using templates or “boilerplate” contract language can also...
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Critical Clauses Reviewing Confidentiality Agreements
Confidentiality agreements, also known as non-disclosure agreements (NDAs), should be tailored to address the parties’ specific needs and circumstances. If a confidentiality agreement does not include certain critical provisions, it may be ineffective. When reviewing a confidentiality agreement, attorneys should look for the following key elements: Identification of the parties. An NDA should clearly identify...
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Benefits of Outsourcing Legal Contract Management
Legal contracts and agreements form the basis for business relationships with clients, third-party vendors, business partners, and service providers. Managing legal contracts throughout their lifecycle, rather than simply executing them and filing them away, can help ensure contractual obligations and deadlines are fully met. However, managing contracts can be labor-intensive and time-consuming for legal departments. Outsourcing...
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Protecting Your Business Contract Standards
It is important to have legal contracts in place to protect your business, your clients, and your interests. In the event the other party fails to uphold their contractual obligations, you will rely on the written agreement to seek legal remedies. Contracts should be used to your advantage. Simply using basic contract standards and off-the-shelf...
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Expediting the Contract Review Process by Using an LPO
Contract review and management can be laborious for both in-house legal departments and law firms. Keeping up with the entire contract review process, without taxing in-house resources, is a common challenge. There are many benefits that legal departments and firms can realize when they choose to outsource contract review and analysis. The advantages of utilizing...
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phases of the contract lifecycle
The contract lifecycle extends beyond negotiating and executing contracts — whether it is for vendors, partners, customers, or employees. Most attorneys understand the importance of looking beyond the initial stages of a contract; however, without a mechanism or processes in place to manage the lifecycle from start to finish, the risk of missing a contractual...
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How To Prevent Delays in Commercial Contract Management
Contracts with vendors, third-party service providers, and customers form the very foundation of commercial business transactions, providing the framework that gives each party the confidence they need to enter into or continue the business relationship. Commercial contract management refers to the process of helping parties to commercial agreements manage their obligations and contractual rights. When...
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