Glossary > C

Contract Ownership

Contract Ownership is the act of being responsible for something, such as a Contract, an Event, an Obligation or mitigation of a Risk.

Contract management software allows you to assign different contract ownership to your contracts, such as a IT Owner or Legal Owner.

These owners will be able to manage their contracts and receive notifications when a contract action is required.

This helps to improve control, drive accountability and prevent bottlenecks from occurring within the contracting process.