I
L
T
A
W
H
I
T
E
P
A
P
E
R
|
T
E
C
H
S
O
L
U
T
I
O
N
S
49
N
egotiating a legal transaction
is rarely easy. Things may
start off with a hushed
barroom conversation or with
a sober spreadsheet analysis.
Eventually there are offers and acceptances,
arguments and compromises, early-morning
brainstorms and late-night phone calls. But once
the negotiations are done and every compromise
is reached, it should be a quick road from there to
closing.
Unfortunately, the road to closing is often
paved by drudgery. Even as firms have moved from
paper to electronic documents, the process has not
improved significantly. A typical closing process
may involve the following:
• Creating a closing checklist
• Drafting and circulating documents
• Collecting feedback, revising documents,
generating blacklines and recirculating
documents
by Sahil Zaman
Transforming
Transactions
A N I N T R O D U C T I O N T O L E G A L
T R A N S A C T I O N M A N A G E M E N T S O F T W A R E
( L T M )
