What's Happening?
Niti Nadarajah emphasizes the importance of reducing assumptions and increasing inquiry in contract drafting and negotiation. This approach, originally rooted in diversity, equity, and inclusion, is applicable
to legal practices, particularly in-house counsel. Nadarajah argues that assumptions can lead to misaligned contract terms and unnecessary negotiation delays. By questioning default clauses and using contract data, legal teams can streamline negotiations and focus on clauses that truly matter. This method encourages curiosity and collaboration, leading to more efficient and effective contract agreements.
Why It's Important?
Nadarajah's approach is significant as it addresses common inefficiencies in contract negotiations that can hinder business operations. By fostering a culture of curiosity and evidence-based inquiry, legal teams can reduce negotiation time and improve contract clarity. This not only accelerates deal-making but also enhances the usability of contracts for internal teams and regulatory bodies. The approach signals a willingness to engage in good faith negotiations, potentially leading to more favorable outcomes for all parties involved.
