Inflation
isn’t
just
a
headline
anymore
—
it’s
sitting
at
the
table
in
your
boardroom,
reshaping
budgets,
and
quietly
wrecking
those
long-term
deals
we
all
thought
were
set
in
stone.
For
in-house
legal
teams,
this
isn’t
just
background
noise.
It’s
a
storm
we
need
to
navigate
—
and
fast.
The
challenges
are
everywhere.
CFOs
are
laser-focused
on
flexibility.
Sales
teams
want
airtight
contracts,
preferably
yesterday.
And
legal?
We’re
caught
in
the
middle,
trying
to
balance
risk,
compliance,
and
the
competing
priorities
of
the
business.
Inflation
has
put
an
uncomfortable
spotlight
on
our
processes,
but
it’s
also
a
chance
for
legal
teams
to
step
up
as
leaders.
Contracts
Are
Getting
Complicated
Inflation
has
turned
contracts
into
living,
breathing
documents.
Gone
are
the
days
when
you
could
sign
a
multiyear
agreement
and
forget
about
it.
Now,
everything
is
being
revisited.
Margins
are
shrinking,
costs
are
rising,
and
no
one
wants
to
be
locked
into
rigid
terms.
I
recently
spoke
with
a
legal
team
that
got
ahead
of
this
by
building
inflation
triggers
directly
into
their
agreements.
They
added
cost-plus
pricing
models
and
capped
escalators
tied
to
market
data.
It
wasn’t
a
flashy
change,
but
it
gave
them
enough
flexibility
to
renegotiate
with
vendors
without
tanking
relationships
—
or
their
budgets.
These
are
the
kinds
of
proactive
moves
legal
teams
need
to
champion.
If
your
contracts
aren’t
adaptable,
you’re
not
just
risking
business
friction
—
you’re
leaving
your
company
vulnerable
to
costly
disputes.
And
with
tools
like
contract
management
platforms,
it’s
easier
than
ever
to
analyze
terms,
track
renewal
dates,
and
pinpoint
where
you
might
need
to
negotiate.
Compliance
Challenges
Are
Heating
Up
Inflation
isn’t
just
a
financial
strain
—
it’s
also
a
regulatory
risk.
Price
increases
tied
to
inflation
can
raise
eyebrows,
especially
in
sectors
already
under
scrutiny
for
antitrust
or
unfair
practices.
Regulators
are
paying
attention
to
how
companies
adjust
their
pricing
models,
and
legal
teams
need
to
be
ready.
This
is
where
having
a
clear,
documented
rationale
for
pricing
decisions
can
make
all
the
difference.
One
GC
I
know
started
keeping
detailed
notes
on
every
price
adjustment
tied
to
inflation,
backed
by
market
data.
When
regulators
started
asking
questions,
the
company
was
ready
with
a
solid
defense.
If
you
don’t
have
a
system
in
place
to
track
and
justify
these
changes,
you’re
flying
blind
—
and
that’s
not
a
position
you
want
to
be
in
when
a
regulator
comes
knocking.
Legal
Teams
Are
Expected
To
Do
More
With
Less
Inflation
isn’t
just
reshaping
business
strategy
—
it’s
hitting
budgets,
too.
Legal
teams
are
no
exception.
We’re
being
asked
to
deliver
the
same
high-quality
work
with
fewer
resources.
That’s
why
efficiency
isn’t
just
a
buzzword
anymore;
it’s
a
survival
strategy.
This
is
where
investing
in
the
right
tools
can
make
a
difference.
Legal
technology
—
like
e-billing
systems,
compliance
trackers,
or
AI-powered
contract
review
tools
—
can
free
up
time
and
help
your
team
focus
on
strategic
work
instead
of
getting
bogged
down
in
the
weeds.
For
example,
I’ve
seen
teams
use
automated
invoice
systems
to
flag
errors
and
save
thousands
in
duplicate
charges.
Another
team
slashed
contract
review
times
by
using
AI
to
analyze
terms
and
flag
potential
issues.
These
aren’t
just
cost-saving
measures;
they’re
opportunities
to
show
how
legal
can
bring
real
value
to
the
business.
What’s
Your
Next
Move?
Inflation
isn’t
going
away,
and
there’s
no
magic
solution
to
make
it
easier.
But
legal
teams
are
in
a
unique
position
to
lead
the
charge,
helping
their
companies
stay
flexible,
compliant,
and
resilient
in
the
face
of
economic
uncertainty.
So,
how’s
inflation
impacting
your
team?
Are
you
renegotiating
contracts,
shoring
up
compliance
processes,
or
finding
creative
ways
to
do
more
with
less?
I’d
love
to
hear
what’s
working
for
you
—
or
what
challenges
are
keeping
you
up
at
night.
Let’s
talk
about
how
we
can
tackle
this
together.
Olga
V.
Mack
is
a
Fellow
at
CodeX,
The
Stanford
Center
for
Legal
Informatics,
and
a
Generative
AI
Editor
at
law.MIT.
Olga
embraces
legal
innovation
and
had
dedicated
her
career
to
improving
and
shaping
the
future
of
law.
She
is
convinced
that
the
legal
profession
will
emerge
even
stronger,
more
resilient,
and
more
inclusive
than
before
by
embracing
technology.
Olga
is
also
an
award-winning
general
counsel,
operations
professional,
startup
advisor,
public
speaker,
adjunct
professor,
and
entrepreneur.
She
authored Get
on
Board:
Earning
Your
Ticket
to
a
Corporate
Board
Seat, Fundamentals
of
Smart
Contract
Security,
and Blockchain
Value:
Transforming
Business
Models,
Society,
and
Communities. She
is
working
on
three
books:
Visual
IQ
for
Lawyers
(ABA
2024), The
Rise
of
Product
Lawyers:
An
Analytical
Framework
to
Systematically
Advise
Your
Clients
Throughout
the
Product
Lifecycle
(Globe
Law
and
Business
2024),
and
Legal
Operations
in
the
Age
of
AI
and
Data
(Globe
Law
and
Business
2024).
You
can
follow
Olga
on
LinkedIn
and
Twitter
@olgavmack.