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Slide Contract Lifecycle Management for Legal Firms

The PDF titled u201cContract Lifecycle Management for Legal Firmsu201d, presented by LDM Global, outlines the importance and benefits of implementing Contract Lifecycle Management (CLM) within legal practices. It begins with an overview of CLM and its significance in improving compliance, reducing risk, and enhancing operational efficiency. The document breaks down the seven key stages of a contractu2019s lifecycleu2014from initiation to renewal or termination.

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Slide Contract Lifecycle Management for Legal Firms

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  1. SlideContract Lifecycle Management for Legal Firms Presented by: LDM Global

  2. Introduction to Contract Lifecycle Management (CLM) ● What is CLM? Contract Lifecycle Management (CLM) refers to the systematic management of contract creation, execution, and analysis. Importance for Legal Firms ○ Enhances compliance and risk mitigation ○ Streamlines contract drafting, approvals, and renewals ○ Reduces manual errors and missed deadlines ●

  3. Key Stages of the Contract Lifecycle 1. 2. 3. 4. 5. 6. 7. Initiation – Contract request and need identification Authoring – Drafting using approved templates Negotiation – Edits, redlining, and stakeholder collaboration Approval – Internal reviews and compliance checks Execution – Signing (wet or e-signature) Obligation Management – Tracking deliverables and milestones Renewal/Termination – Alerts for expirations, renegotiations

  4. Why Choose LDM Global for CLM Services ● ● ● ● Industry Expertise – 25+ years in legal support and data services Tailored Solutions – Customized CLM workflows for legal operations Advanced Technology – AI-powered contract analytics & automation Global Reach – Support across multiple jurisdictions and time zone

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