New Entity Spun Off and Stood Up for F100 Manufacturer

Challenge

A multinational manufacturing company plans to spin off its healthcare division ahead of regulatory deadlines. With no time to spare, the company needs to perform a comprehensive contract review to prepare for the divestiture.

Approach

Axiom produces an 8-person strong team of paralegals and former AmLaw 100 attorneys to disposition and repaper approximately 4,000 contracts. The paralegals review each contract for key terms and either renew, clone, or add addendums to each agreement. Experienced Axiom lawyers serve as escalation points and negotiate ongoing SaaS agreements, including data security and data privacy provisions. Fully integrated into the company’s procurement division, the Axiom team works swiftly to beat the firm 5-month review deadline.

Impact 

• Team of 6 paralegals and 2 attorneys expedited the review process and dispositioned or novated nearly 4,000 agreements.
• Ensured client met firm filing deadline without detracting from day-to-day operations.
• Positioned divested entity as a fully-functioning organization without reliance on legal support from parent company.