It’s relatively commonplace for contracts to point the reader to terms contained on a website. It follows that electronic versions of such contracts often hyperlink those URLs.
But recently someone asked me about using hyperlinks for a different purpose, namely to speed cross-referencing within a Word document. You can hyperlink the entries in a table of contents, as well as references to exhibits, schedules, and other sections. You could even link a defined term to the definition of that term, although that would likely be distracting.
Go here for Word 2007 Help and How-to instructions on hyperlinking within a document.
Do any of you use such hyperlinks? Have you encountered them in drafts sent to you? If so, do you find them useful?