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.
Greg Storey, InVision’s Senior Director of Executive Programs, on standups and standing, evening escape plans and killing elephants.