Contract negotiation assistance system and method

A method for use by a first party in contract negotiation with a second party, the method comprising:

• receiving, at a control circuit from a user of the first party via a user interface, feedback from a second party regarding a contract term of a draft contract;
• accessing, by the control circuit, a contract term playbook database in communication with the control circuit using the feedback;
• and
• outputting, to the user via the user interface, guidance for response to the second party regarding the contract term and preapproved by the first party.

A system for use by a first party in contract negotiation with a second party, the system comprising:

• a control circuit;
• and
• a contract term playbook database accessible by the control circuit;
• wherein the control circuit is configured to:
• receive, from a user of the first party via a user interface, feedback from the second party regarding a contract term of a draft contract, wherein the contract term comprises a position of the first party stated in the draft contract;
• wherein the feedback indicates less than acceptance of the contract term by the second party, the feedback comprising one or more of a rejection of the contract term, a proposed alteration of the contract term, a proposed alternative to the contract term;
• access the contract term playbook database using the feedback, wherein the contract term playbook database stores data corresponding to one or more of:
• a plurality of contracts, a plurality of contract terms, a plurality of possible objections by opposing contracting parties to contract terms, a plurality of response options preapproved by the first party, a plurality of responsive contract term language alterations preapproved by the first party, a plurality of complete contracts including responsive contract term language alterations preapproved by the first party, and a plurality of draft responsive communications to opposing parties preapproved by the first party;
• output, to the user via the user interface, guidance for response to the second party regarding the contract term and preapproved by the first party, wherein the guidance comprises one or more of:
• a response option preapproved by the first party, a set of response options preapproved by the first party, a responsive contract term language alteration preapproved by the first party, a complete contract including the responsive contract term language alteration preapproved by the first party, and a draft responsive communication to the second party preapproved by the first party, wherein the response option comprises one or more of:
• a rejection of the feedback, an acceptance of the feedback, a contract term alteration preapproved by the first party, and a proposed alternative to the contract term preapproved by the first party;
• and
• cause one or more of the feedback and the guidance to be stored for logging.