Differentiating Between Obscure and Transparent Contracts
A contract can provide a lot of insight to the belief system of a company, depending on how it’s worded.
More specifically, a transparently worded contract will invoke the feelings of trust and assurance in a transaction. The opposite, however, is also true. If you have a jargon-laced contract that comes off as obscure or convoluted, this will stress a transaction. It’s easy to see when a contract is being worked-over. As a result, technology trends in the industry have led to a move away from obscurity and towards transparency.
When it comes to technology and law, there is more than one way to create a contract. And to be sure, there aren’t any inherent issues with having a transparent contract. It’s just a matter of your beliefs on the matter.
One thing is clear, however. Whether a contract is transparent or obscure speaks volumes about your company. For more on this subject, watch the full video from OpenView Labs featuring Jeremy Aber.