Today I saw the following tweet:
Contract drafting makes me sad.
— Lauren (@15lauren) October 22, 2017
Here’s how I responded:
You're doing it wrong :-) https://t.co/hKurJeRTmX
— Ken Adams (@KonciseD) October 22, 2017
The smiley in my tweet was to indicate that I was being facetious. Why was I being facetious? Because the process of drafting contracts, as it’s traditionally handled, would make anyone sad: You find, or are given, a precedent contract or template of questionable quality and relevance, and you copy it, making whatever adjustments are required to reflect the new deal and your standards. That takes time and involves varying amounts of frustration and uncertainty. In fact, the higher your standards, the greater your frustration and uncertainty is likely to be. You’re left with a bad case of the sads.
That’s why I’ll continue in my efforts to commoditize the process of drafting business contracts. Endlessly reinventing a wobbly wheel is a colossal waste of time and money. It also hurts an organization’s competitiveness and causes it to assume unnecessary risk.