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 LPO support include:
- A consistent approach. When you outsource contract review and management, the professionals engaged in the process follow a consistent and disciplined approach to ensure your firm’s preferences, style, and standard terms and conditions are adhered to.
- Identifying important provisions. Contract review professionals are able to quickly identify and call attention to contract provisions or clauses that don’t match your firm’s preferences, provisions that involve significant obligations, or provisions that conflict with commercial understanding.
- Efficiency. Using an LPO for contract review typically results in a faster turnaround time than having internal teams add this task to their already full schedule. Contract review professionals are trained and experienced at reviewing contracts and agreements for many industries and services, which provides expert quality while adhering to critical deadlines.
- Maintaining security and confidentiality. Ensuring that information is secure and confidential is not just important for law firms and legal departments; it’s critical. Confidentiality is a top priority when outsourcing contract review with an LPO firm that requires its attorneys and other staff to adhere to the highest standards for privileged and confidential information.
Outsourcing all or parts of the contract review process can free up valuable resources to use on high-priority demands from within your organization.
Baer Reed provides a full range of outsourced legal solutions, including contract analysis, to law firms and in-house legal counsel. To learn more about how we can help expedite the contract review process, contact us online or call us at (888) 433-1990 today.
- On November 30, 2017
- Back to post list