Contracts Lifecycle Management (CLM) is an official business definition that refers to the entire process of managing contracts from their inception to their conclusion. It includes the processes of creating, negotiating, executing, managing, and renewing contracts. CLM is an essential part of any business, as it helps to ensure that all contractual obligations are met and that all parties involved are aware of their responsibilities. CLM is also a great way to ensure that all parties involved in a contract are held accountable for their actions and that the terms of the contract are upheld. CLM is a critical component of any successful business, as it helps to protect the interests of all parties involved and to ensure that all contractual obligations are met. CLM is also a great way to ensure that all parties involved in a contract are aware of their rights and obligations, and that the terms of the contract are respected.