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Contractual disputes and claims often build up over time, slowly and unnoticed. CoTrack identifies and manages (settles) such claims at their early stages. This avoids unnecessary escalation, legal costs, litigation and loss of time.
Litigation over commercial claims cannot always be avoided. In such situation, CoTrack ensures your business steers out of litigation in the best possible way. The strategy to follow is always clear and supported by your team, while time and (legal) costs spend are minimized.
Make sure that performance of your contract counterparty’s contractual obligations is properly secured, by the right type of guarantee. Or, the other way around, ensure that you provide the right type of security to cover your own contractual obligations, maintaining a fair risk balance and avoiding excessive risk exposure.
Ensure that team members involved in contracting understand why and how their contracts contribute to profitability and overall business success. Train your people so they truly understand and own contracts they are involved in. Avoid that contracts end up in a drawer and are not actively managed, causing additional cost or lost opportunities.
Achieve increased time/cost efficiency and quality when it comes to your business contracts (e.g. sales, procurement, innovation, R&D):
These goals can be achieved with the help of a Contract Lifecyle Management (CLM) system (software application). Of course, a CLM system alone will not do the trick: it requires a proper – and prior – analysis of your current way of working and business needs. Plus: in- depth understanding and acceptance/adoption by all future system users (colleagues that actually deal with contracts). CoTrack can manage this process and enable your business to reap the benefits of improved contract management.
Make sure your external lawyer (law firm) stays switched on. Critically review selection and performance of existing and new law firms that you engage. Make sure that fees are in line with the market practice and external lawyers spend their time wisely and efficiently. CoTrack identifies improvement opportunities helping your business to substantially reduce its legal costs.
Take a critical look at the way your legal department currently works. Are team members making actual impact, addressing matters that truly matter to your business? CoTrack provides an independent, fresh view and a concrete plan for moving forward.
CoTrack can help your business to define its (legal) risk appetite i.e. to set the guardrails that your team members should stay within. The result will not be a lengthy book that nobody reads, but a concise and clear document that is accessible and attractive for colleagues that need to know.
Regardless of the legal matter or project at hand, my starting point is to make sure I understand and know your business (project). After this and together with all stakeholders involved, business (project) needs are identified and – where needed – a strategy/approach is set. During this process, my cultural awareness and solid understanding of both common and civil law come at hand (amongst others gained through employment in Europe, Asia-Pacific, USA/Americas and through working with global clients/partners).
After a plan/approach has been set, I will closely collaborate with your stakeholders to ensure proper and timely execution. In this phase I always ensure that the team members involved understand the purpose and actively support the objective set.
