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Increased complexities in commercial agreements – unique pricing models, rapid technological innovations, and increasing government regulations – have translated into mounting challenges for in-house attorneys tasked with properly organizing and documenting contract negotiations. While young in-house lawyers understand the concept of accurately and clearly transforming the business intent of a transaction into writing, even seasoned attorneys must remain focused to ensure their transactions are diligently organized and properly documented in order to avoid the common pitfalls that unnecessarily complicate business transactions. With this in mind, young in-house attorneys should remember that transactional business is a team sport, properly documenting the negotiation process is essential, and negotiating dynamics are an integral part of any transaction.

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