Law Practice Management and Technology

The Bottom Line Volume 37, No. 3 June 2016

Minimum Viable Contracts: Enable Agility by Easing Agreements

By Dan Puterbaugh

Businesses that can make decisions, close deals, and execute agreements with speed have a competitive advantage over companies bogged down by lengthy processes and complex contracts. Practices adopted from the startup world, like minimum viable product, have made their way into established companies as they seek to ways to increase productivity and decrease costs.

In the same way that startups shorten time to launch by producing minimum viable product, it’s time for in-house counsel to consider shortening the turnaround on agreements by producing minimum viable contracts. These contracts can reduce the need for business people to engage with their in-house counsel before they can sign a low-risk agreement. Simplified agreements written in plain English make sense in the commercial world.

Let Go of Legalese

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