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Help on managing your contracts, from your law firm!

Ron Friedmann, on his PrismLegal blog (March 31, 2006) suggests that law departments can look to their firms not just to draft but also to manage contracts. For its law department clients, a firm can keep track of all contracts, including their expiration dates, obligations and rights, renewal options, payments and risks.

Friedmann cites a LegalIT report that credits DLA Piper Rudnick with having streamlined contract management and having teamed with Affinitext to implement its “contract navigation system.” Here is an example of a benefit from a law firm that law departments might not have considered, although the cost may be high unless the firm transforms the traditional law firm model of service delivery.