International Contracting: Best Practices in Structure and Legal Review
Tim Cummins, CEO & Corporate Counsel, IACCM - International Association for Contract and Commercial Management, USA
Globalisation creates mixed emotions for the in-house counsel. While voyages of discovery - real or metaphorical - can be exciting, international business brings with it greater complexity and risk. This often translates into frustrating delays and long lead times while the lawyers and affected business units build internal consensus and undertake reviews and approvals of contract terms. Few businesses today are immune to the forces of global trade. In-house counsel are expected to structure and review a wide array of international relationships, spanning remote jurisdictions and raising complicated legal and commercial issues. Get it wrong, and the exposures could be horrendous. But getting it right often involves cycle times and delays that are simply unacceptable to the business.
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