We’re thrilled to share the first version of our LegalTech Contracting Landscape Market Map. We’ve met with 100+ emerging companies working with contracts using technologies in meaningful ways to impact the world of law. For a downloadable copy, please see the comments.
Download the LegalTech Contracting Market Map (April 2024).
Contract management involves six important stages:
PRE-EXECUTION:
1️⃣ Request: Specify contract types and purpose.
2️⃣ Drafting: Determine the parties involved, scope, primary users, responsibilities, terms and conditions, risk allocation, dispute resolution, and regulations.
3️⃣ Negotiation: Obtain favorable terms, minimize risk, and circle suggestions.
EXECUTION:
4️⃣ Approval & Execution: Gaining approval from all parties, signing the contract, and informing all relevant persons.
POST-EXECUTION:
5️⃣ Storage & Obligation: Adhering to the contract and setting clear goals for completing obligations. Safe Storing the signed contract and relevant documents.
6️⃣ Renewal or termination: Evaluating the purpose of the contract and parties’ performance.
To all our friends, founders, and investors - our LegalTech Contracting Landscape was constructed based on the six stages above, please reach out if you want to learn more about what we’re seeing coming around the corner or have suggestions.
Did we miss you on the map? Please comment below and we’ll add you to the next one. Things are changing so quickly in the legal industry that we’re sure there will be a whole new crop of exciting companies coming around shortly!
Download the LegalTech Contracting Market Map (April 2024).
Did we miss you on the map? Please comment below and we’ll add you to the next one. Things are changing so quickly in the legal industry that we’re sure there will be a whole new crop of exciting companies coming around shortly!
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