Optimising Contract Review and Negotiation with AI
Use AI to streamline contract review, identify risks, and negotiate better terms in business agreements.
{'title': 'Understand your leverage', 'content': 'Negotiating position depends on relative power. Understand your alternatives and theirs. This determines how aggressively you can push for terms.'}
{'title': 'Focus on key issues', 'content': "You can't renegotiate everything. Identify 3-5 key issues and focus energy there. Accept market-standard terms on less critical items."}
{'title': 'Document decisions', 'content': 'When deciding to accept terms, understand why. This prevents later regret and helps you remember trade-offs made.'}
{'title': 'Get appropriate reviews', 'content': "For complex or high-value contracts, involve legal counsel. AI analysis is excellent but doesn't replace expertise for critical matters."}
{'title': 'Build relationships', 'content': 'Contracts are just the beginning. Build good relationships with counterparties. Good faith dealings create flexibility when inevitable issues arise.'}
Why This Matters
How to Do It
Contract Clause Analysis
Risk Identification and Flagging
Comparison and Benchmarking
Negotiation Strategy Development
Prompts to Try
Contract Analysis Prompt
Review this contract [provide text or summary]. What are the key terms? What clauses are non-standard? What risks do I need to understand? What would I want to negotiate?
Risk Assessment Prompt
Analyse this specific clause [provide clause]: What does it mean? What are the implications for us? What's the risk if we accept this? What alternative language would be better?
Negotiation Strategy Prompt
I'm negotiating this contract with [party]. Our priorities are [list priorities]. What's our negotiation strategy? Which terms should we stand firm on? Where can we be flexible?