Ensuring corporate governance and regulatory compliance especially when the business is growing and has operations globally, can be tedious. Not only do you need to adhere to laws, policies and regulations across different nations and jurisdictions, you must also deal with diverse corporate forms. This can make legal entity management a major challenge for legal departments, especially for those with limited resources. With the pressure to do more with less, it is upon general counsel to find innovative, low cost methods to better manage entities. Here are 4 ways legal departments can facilitate collaboration across the business, improve communication and dialogue among stakeholders, and be more effective in entity management.
Inefficient contracting, from drafting, negotiation to signature, not only slows down deals and expose the company to risk, but can also increase costs. Here are some quick tips for improving contract management efficiency at each phase of the contract management lifecycle by taking a collaborative approach.
Legal departments are under more pressure than ever before, and are constantly fighting fires on a number of fronts. Regulatory and legislative changes, political instability, changing market needs and growing competition all contribute to a growing deal of complexity for legal departments. To deal with these pressures, many legal departments are working harder and increasing resources. However, increasing resources can be out of the question for smaller legal teams – creating a compelling reason to find alternative ways to work smarter by transforming operations.