OK, you made it, you have a deal. It's great, it's perfect - life is good and now you just want to get on with the business of fulfilling your end of the bargain. But, how do you make sure that the people responsible for carrying out agreement actually understand what they are supposed to do?
Chances are you aren't going to find too many people excited to dive into the language of the contract every time they have a question or a question about upcoming contractual milestones. You are going to need some kind of summary - a way to help the business people understand what they have to do without drowning them in the finer legal points. One strategy we've had a lot of success with at the Studio is to use Mind Mapping software to create a Deal Map. A visual summary of important deal terms. We use MindMap Pro to help us create our Deal Maps.
There is definitely a craft to Deal Mapping. The need to be legally accurate and easy to understand can take some teamwork between you and your attorney/legal department. But the payoff can be realized in having greater certainty about important contractual elements and a confidence that each new deal will be implemented accurately and on time.
For an example of a simple Deal Map, click here.
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