What is legal counsel in SAP LCM - Legal Content Management?

SAP Term: legal counsel

• Component: LCM

• Component Name: Legal Content Management

• Description: Role in A legal counsel can have the following functions: Transaction manager, responsible for the lifecycle of legal transactions and key contact for all internal and external parties involved in a legal transaction Author, responsible for creating and maintain legal templates for specific business scenarios Context manager, responsible for setting up a context as a template for processing legal transactions in a similar way

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• Key Concepts: 
  Legal counsel is a term used to describe the legal advice and services provided by a lawyer or law firm. In the context of SAP's Legal Content Management (LCM) component, legal counsel is used to refer to the legal advice and services provided by an external law firm or other legal professionals. 
  
  How to use it: 
  The LCM component of SAP allows users to access and manage legal documents, such as contracts, agreements, and other documents related to legal matters. The LCM component also provides users with access to external legal counsel, allowing them to seek advice and services from an external law firm or other legal professionals. 
  
  Tips & Tricks: 
  When using the LCM component of SAP, it is important to ensure that all legal documents are properly reviewed and approved by an external legal counsel before they are finalized. This will help ensure that all documents are legally binding and compliant with applicable laws and regulations. 
  
  Related Information: 
  For more information on SAP's Legal Content Management (LCM) component, please visit the official SAP website at https://www.sap.com/products/legal-content-management.html.