MEMBER ARTICLE: Tried and True Tactics for Expediting Contract Negotiations

Author: Polly Dinkel, Sideman & Bancroft LLP

Publication: NAMWOLF Newsletter

Summary: Companies engaged in large-ticket sales of products and/or services, particularly when their customers are also large and sophisticated, frequently find it challenging to sell their products or services time- and cost-effectively, while also controlling business and legal risks. Large-volume customers usually have strict internal policies and procedures for purchasing that include “mandatory” terms and multiple levels of review and approval, by both legal and business units. If not managed correctly, these negotiations can drag on, lengthening the sales cycle, burdening internal resources, increasing outside legal costs, and resulting in last-minute concessions to close the deal timely.

www.sideman.com

About NAMWOLF:The National Association of Minority & Women Owned Law Firms (NAMWOLF), founded in 2001, is a nonprofit trade association comprised of minority and women-owned law firms and other interested parties throughout the United States. Many corporations and public entities interested in diversifying their outside law firm ranks have focused almost exclusively on the utilization of minority and female attorneys at majority firms. Yet the available data strongly suggests that these efforts have not resulted in greater diversity in the legal profession. It is NAMWOLF’s view that the most effective way for corporations to increase diversity in the legal profession is to increase their retention of minority and women-owned law firms.

www.namwolf.org

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Published In: Business Organization Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© The National Association of Minority & Women-Owned Law Firms | Attorney Advertising

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