The technology sector is synonymous with rapid growth and change – which brings associated legal challenges and regulatory and compliance risks. Unique priorities for technology companies include international business needs, high-speed merger and acquisition deals, change management, and laws and contracts surrounding emerging technology to ensure their company is ahead of the innovation curve expected by their customers.
Importantly, technology companies also require regulatory tracking in the areas of intellectual property, data, and privacy, and reliable interactions with regulatory agencies. Mitratech provides solutions to many of the world’s largest information technology companies, and we understand the needs for proactive solutions to manage legal and regulatory risks.
Technology companies need to operate in an efficient, lean manner to continue heavy investment in research and development for continuous innovation. With a high amount of global IP work with high demands on local outside counsel, a legal spend management solution provides a strategy to legal spend savings of up to 10% to 20% annually.
A central repository and historical database for all the IP and matters that cross the legal department’s desk is critical for fast-moving technology companies. Efficiently manage your legal needs by driving down costs, collaborating more efficiently as a business partner, and protecting the organization from risk with legal matter management.
As your company grows and evolves, it is critical to establish a robust policy management practice to ensure all employees are aware of and acknowledge company policies. As a technology company, you are uniquely aware of the benefits to a technology solution to automate, enforce, and track policy management.
Creating a knowledge base that is accessible, auditable, and centralized is key to optimizing your company’s success today and in the future. With rapid changes and the possibility of mergers and acquisitions, having historical knowledge available at a keystroke and ensuring information is discarded according to retention regulations is invaluable to your organization.
Managing contracts – from customer contracts to merger and acquisition – requires a solution to automate, streamline, and record all critical information.