Most
in-house
legal
teams
talk
about
contracts
in
terms
of
risk.
They
focus
on
fallbacks,
approval
workflows,
and
redlines.
Rarely
do
they
talk
about
contracts
in
terms
of
data.
And
that’s
where
the
real
opportunity
is
hiding.
In
a
recent
episode
of
Notes
to
My
(Legal)
Self,
legal
tech
leader
Colin
Levy
offered
a
perspective
that
should
make
every
in-house
lawyer
stop
and
think.
“Contracts
really
are
how
businesses
run,”
he
said.
“They’re
the
lifeblood
of
a
business
—
and
they
contain
a
lot
of
valuable
data
that
often
goes
unnoticed
or
not
tracked
or
not
acted
upon.”
It’s
the
kind
of
comment
that
sounds
obvious
once
you
hear
it.
Of
course,
contracts
are
full
of
valuable
information.
But
if
we’re
honest,
most
legal
departments
still
treat
them
like
static
documents
—
PDFs
to
be
negotiated,
signed,
and
filed
away.
We
don’t
treat
them
like
data
sources.
We
should.
Watch
the
full
conversation
here:
We’re
Sitting
On
Gold
And
Calling
It
Admin
Work
Contract
data
isn’t
limited
to
party
names
and
payment
dates.
It
includes
risk
positions,
clause
trends,
cycle
times,
fallback
usage,
and
term
variations.
It’s
business-critical
information
hiding
in
plain
sight.
However,
we
often
treat
this
data
as
a
legal
admin
—
something
to
“handle”
rather
than
something
to
learn
from.
Whether
or
not
you
use
a
CLM
system,
contract
data
remains
one
of
the
most
underused
assets
legal
teams
have.
That
gap
leads
to
familiar
problems.
Sales
wonders
why
contract
approvals
stall.
Finance
can’t
reconcile
revenue
forecasts
with
reality.
Procurement
teams
miss
auto-renewals
that
cost
the
company.
Legal
scrambles
to
explain,
but
without
clear,
structured
data,
we
fall
back
on
narrative.
That’s
when
legal
becomes
the
black
box
everyone
struggles
to
navigate.
You
Can’t
Leverage
What
You
Can’t
See
Colin
emphasized
that
legal
tech
isn’t
just
about
automation.
It’s
about
visibility.
“To
be
a
valued
member
of
the
team,
you
have
to
understand
how
the
business
operates,”
he
said.
“Legal
tech
helps
you
become
more
data-driven
and
visible.”
Visibility
is
the
difference
between
legal
being
seen
as
a
blocker
and
being
trusted
as
a
strategic
partner.
When
legal
shows
up
with
metrics,
real
insights
about
what
slows
deals,
where
risk
accumulates,
and
how
terms
evolve,
everything
changes.
You’re
no
longer
asking
for
trust.
You’re
earning
it.
The
First
Step
Isn’t
AI.
It’s
Attention.
Legal
departments
are
eager
to
explore
generative
AI,
but
Colin
offered
a
caution:
it’s
not
the
tool
that
matters;
it’s
the
data
you
feed
it.
Before
exploring
automation,
start
by
understanding
what’s
already
in
your
contracts.
Colin
suggested
focusing
on
foundational
insights:
renewal
dates,
payment
schedules,
performance
obligations,
negotiation
trends,
and
clause
alternatives.
“The
more
you
can
track
those
data
points
and
use
them
to
drive
your
decision
making,”
he
said,
“the
more
leadership
will
value
what
you’re
doing
—
and
understand
why
you’re
doing
it.”
Contracts
Should
Speak
The
Language
Of
Business
Colin
made
a
strong
case
that
legal
teams
need
to
speak
in
data
to
be
heard
by
the
business.
It’s
no
longer
enough
to
say
“trust
us.”
Business
leaders
want
to
see
impact
—
measured,
quantified,
and
aligned
to
objectives.
“Data
can
really
help
you
get
there,”
he
said.
“And
in
a
way
that
leadership
and
other
functions
of
the
business
can
understand
and
act
upon.”
When
legal
speaks
in
contract
data,
it
becomes
a
force
multiplier.
It
supports
better
decisions.
It
builds
trust.
It
clarifies
how
legal
supports
both
revenue
and
risk
mitigation.
And
it
transforms
contracts
from
paperwork
into
strategic
intelligence.
Final
Thought:
Don’t
Wait
To
Get
Loud
Colin’s
message
is
clear.
Legal
doesn’t
need
to
boil
the
ocean
or
launch
a
transformation
project
to
make
progress.
It
just
needs
to
pay
closer
attention
to
the
signals
already
embedded
in
contracts.
Start
by
asking
one
good
question.
Track
one
useful
data
point.
Turn
one
insight
into
a
conversation
with
a
business
partner.
That’s
how
change
starts.
Legal
teams
have
always
been
great
at
protecting
the
business.
But
now
we
have
the
tools,
and
the
data,
to
illuminate
it.
Olga
V.
Mack is
the
CEO
of TermScout,
an
AI-powered
contract
certification
platform
that
accelerates
revenue
and
eliminates
friction
by
certifying
contracts
as
fair,
balanced,
and
market-ready.
A
serial
CEO
and
legal
tech
executive,
she
previously
led
a
company
through
a
successful
acquisition
by
LexisNexis.
Olga
is
also
a Fellow
at
CodeX,
The
Stanford
Center
for
Legal
Informatics,
and
the
Generative
AI
Editor
at
law.MIT.
She
is
a
visionary
executive
reshaping
how
we
law—how
legal
systems
are
built,
experienced,
and
trusted.
Olga teaches
at
Berkeley
Law,
lectures
widely,
and
advises
companies
of
all
sizes,
as
well
as
boards
and
institutions.
An
award-winning
general
counsel
turned
builder,
she
also
leads
early-stage
ventures
including Virtual
Gabby
(Better
Parenting
Plan), Product
Law
Hub, ESI
Flow,
and Notes
to
My
(Legal)
Self,
each
rethinking
the
practice
and
business
of
law
through
technology,
data,
and
human-centered
design.
She
has
authored The
Rise
of
Product
Lawyers, Legal
Operations
in
the
Age
of
AI
and
Data, Blockchain
Value,
and Get
on
Board,
with Visual
IQ
for
Lawyers (ABA)
forthcoming.
Olga
is
a
6x
TEDx
speaker
and
has
been
recognized
as
a
Silicon
Valley
Woman
of
Influence
and
an
ABA
Woman
in
Legal
Tech.
Her
work
reimagines
people’s
relationship
with
law—making
it
more
accessible,
inclusive,
data-driven,
and
aligned
with
how
the
world
actually
works.
She
is
also
the
host
of
the
Notes
to
My
(Legal)
Self
podcast
(streaming
on Spotify, Apple
Podcasts,
and YouTube),
and
her
insights
regularly
appear
in
Forbes,
Bloomberg
Law,
Newsweek,
VentureBeat,
ACC
Docket,
and
Above
the
Law.
She
earned
her
B.A.
and
J.D.
from
UC
Berkeley.
Follow
her
on LinkedIn and
X
@olgavmack.