Legal operations

A strong corporate legal function or department is a strategic partner for the organization, supports innovation and is data-driven. Budget management is a necessary condition for this, so that you know where the budget for the corporate legal function or department is spent. Smart contracting helps you to strengthen the internal or corporate legal function. What do we mean by this?

Some organizations have a legal department. This department is often overburdened because all legal issues are settled there. The contracts to be assessed will then quickly end up in a pile, while the organization needs to respond quickly and efficiently. Customers are impatient and prospects have a short lifespan. There is a need to take internal legal services to a higher level.

However, many organizations do not have a legal department or corporate counsel. Employees in different positions often perform legally delegated tasks. Think of the HR manager who concludes employment contracts, the purchaser who is authorized to conclude contracts up to a certain amount, the ICT manager who enters into license agreements.

The legal position can end adjusted in different ways, depending on a number of factors importance is. These factors are:

  • Size of the company
  • The knowledge already available
  • The availability of employees
  • The complexity of the contracts

Regulating the legal function means in concrete terms:

  1. Link business processes to contract portfolios
  2. If desired, make contract portfolios company-specific
  3. Setting up Legal Entity Management: linking roles and authorities to business processes
  4. Training employees in use and application of contract portfolios
  5. Support with the application of smart contracting itself.