What is Contract Drafting Automation?
Contract drafting automation is the process in which contract drafts are automatically drawn up using digital software. Usually, the contract clauses or terms are already pre-drafted by lawyers. Then, the automation software or tool is used to automate the creation of legal documents without having to involve a legal team each time.
Drafting automation helps businesses generate accurate documents and enables a more efficient workflow when compared to manual contract processes. Contract drafting automation improves collaboration and document tracking and allows all parties to view up-to-date information within the agreement.
What is the Importance of Contract Drafting?
Contract drafting is very important for you whether you are a small or medium business, a sole trader, or a freelancer. The contract will detail all the terms that you and the other party have agreed upon and will outline what happens in case someone breaches the contract, protecting things like sensitive information and intellectual property rights. If a contract is drafted poorly, you might find that it cannot be relied on because it is not clear enough or doesn’t reflect the intentions of the parties involved, and therefore would not hold up in a contractual dispute.
What Are the Steps in Drafting a Contract?
Contracts are legally binding agreements between parties that detail the rights and obligations of those involved. As such, it is important when drafting a contract to create a document that is not only legally binding but one that meets all parties’ demands as closely as possible. Here are some key milestones in the contract drafting process.
Due Diligence: The first step is to do your due diligence on all parties that are participating in the agreement to ensure they can meet their obligations and that the contract can be enforced. This is because a contract is only legally binding if all parties understand what is required of them.
Considerations: Next you will need to clearly define what will be received in exchange for the services.
Terms: The terms of the contract will include all the relevant information such as pricing, how to terminate the contract, the scope of work, intellectual property considerations, conditions, and the period of the contract.
Offer: Once all the terms and conditions of the contract are drafted, you can then send it to the other party to review and add any terms that may have been missed.
Contract Signing: Once all parties are in agreement the contract can then be signed.
How Do I Get Better at Contract Drafting?
One of the best ways to improve contract drafting is by digitizing your documents and automating the process. This works by using an automatic drafting tool that helps you quickly put together contracts by either referring to a bank of legal clauses or using a digital bot where you answer questions about what you want the contract to include. The automation tool will then create your contract based on the information you have provided.
Contract drafting automation saves time, reduces errors, and maximises efficiency. You will be able to draft documents faster and benefit from improved accuracy and up-to-date information. Drafting automation also improves your contract workflow, contact management, and client collaboration.
Automate Your Contract Drafting With Gerrish Legal
Gerrish Legal has created an automation tool to help you prepare your own bespoke Service Agreements and Confidentiality Agreements through our Contract Portal.
With the Contract Portal, you can generate your own contracts with ease and efficiency by answering questions from our Gerrish Legal bot, your new digital lawyer. Depending on the answers you give, the bot will put together the terms of the contract and will customise your unique contract. The terms and clauses have been pre-drafted by our specialised contract lawyers based on years of experience. All you have to do is input the necessary information and you’ll instantly receive the final contract straight to your inbox saving time, and effort and minimising mistakes.
You and your contracting party will have a secure and coherent agreement that you can rely on, giving you the peace of mind you need when doing business with third parties. If you want to benefit from our automated contract drafting tool, you can access our contract portal here. You can also book a 30-minute consultation with one of our human lawyers if you need any bespoke advice!
How Can Gerrish Legal Help?
Gerrish Legal is a dynamic digital law firm. We pride ourselves on giving high-quality and expert legal advice to our valued clients. We specialise in many aspects of digital law such as GDPR, data privacy, digital and technology law, commercial law, and intellectual property.
We give companies the support they need to successfully and confidently run their businesses whilst complying with legal regulations without the burdens of keeping up with ever-changing digital requirements.
We are here to help you, get in contact with us today for more information.