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Streamline the time needed to draft routine contracts (GE and DuPont)

In most law departments, one of the most common processes is to draft or review routine contracts (See my post of Dec. 3, 2005 on ways to expedite contract processes.). I wouldn’t be surprised if lawyers assigned to a business unit spend close to half their time on contract-related matters.

According to Corporate Counsel, Vol. 13, June 2006 at 67, General Electric used Six Sigma disciplines to cut the time needed to draft routine contracts from 30 to three days. DuPont did something similar and saved $4.5 million a year through its effort. All law departments can increase the speed and decrease the cost of how they handle contracts.