Timing Is Important
By Michael Feit | Contract Negotiations , White Papers
Obviously, the timeline for negotiating is dictated by contract expirations. With 3+ year contracts, the deadlines can seem to immediately appear without realizing the time left to prepare. Allowing for adequate time to prepare for contract negotiations is necessary to achieve optimal pricing and terms for the correct content needed by the firm.
It is recommended to allow for 2+years to develop and execute a well-planned legal information resource strategy. By doing so, there is time for gaining management buy-in, diffusing potential pushback, developing work-arounds for lost resources, conducting trials of new products, and holding ongoing trainings.
Learn more about preparing for contract negotiations to achieve optimal pricing in Feit Consulting’s latest white paper Optimizing Legal Information Pricing.