Redlines in contract negotiation for in-house counsel
When you are sitting with opposing counsel in the conference room for negotiation, it’s hard to think. Many lawyers are not able to get successful in contract negotiation. So, the contract negotiation takes place in redlines of documents. You do not have to waste time in counting the outcomes. The Nada Alnajafi is the most successful lawyer serving as in-house counsel. Here are the three redlines in contract negotiation for in-house counsel.
- Uncover essential clues – Redlines tell all the details that original words do not. It tells about feeling, thinking, ready to accept or reject the other party. The in-house counsel accompanies their Redlines in comment and here the contract negotiation happens. Comments represent two main things. First, it justifies your change position and second is that they understand the change position of the other party. It is important to make a strategy about what and how you say. So, pay full attention to the comments because redlines also have many hidden clues that should be uncovered.
- Accelerate negotiation – On in-house counsel, there is pressure to complete negotiation as soon as possible. The fastest updated contacts result in fast exchange and they are finalized quickly. So, Redlines offer various efficiencies that help you to complete your job fast. The manual redlines are time- consuming but now there are many processing tools available that create redlines and help in sharing comments fast and in a well-organized way.
- Ease internal collaboration – During the review of a contract, every single change, deletion and addition represents your work. So, it should be thoughtful and reviewed with business clients, subject experts etc. before making a final recommendation. Redlines turn the lifeless paper into lively forum. It makes deletion of comments easy and updates the needy questions. You can create a draft that represents the position of clients by using a holistic approach. You can also use different colors in redlines that represent certain points.
