Is Legal the Bottleneck?
Why do employees fail to involve Legal in contract reviews and approvals? How can a legal team manage risk and liability for an entire business if it is only included 67% of the time?
Perhaps the answer stems from perceptions of Legal’s speed. When asked to identify the top issues in the contract lifecycle, more than two in five (41%) respondents believe contract processes are too slow. Legal respondents are part of this figure.
The number nearly doubles with departments like R&D and Engineering, in which four in five (79%) respondents acknowledge that contract delays slow innovation, team sprints, and product delivery. Sales, Operations, Finance, and HR share similar views of Legal’s sluggishness.
It’s a vicious cycle. Legal is seen as slow, so it’s excluded, creating more risk, which demands more legal intervention.