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In the average company, 80% of the buying and selling that goes on is governed by contracts. Contracts with suppliers. Contracts with customers. Contracts with vendors. Contracts establish the value of each of these business relationships, in black and white, in dollars and cents.
However, in the average company, contract documents are neglected and abused. It can take weeks and months to negotiate a contract. You draft and redraft the terms, bake in safeguards and set service-level standards. But then the document itself is typically filed away and forgotten...