An attorney is away and a business colleague asks for an update. The matter record says “Active,” but gives no clue what anyone is waiting for. Matter management needs a more useful answer: the current task, the person responsible and the record behind it. Agree on those expectations before adding more fields to the system.
Three Emails, One Matter
Worked example: An Illinois company sends separate emails about diligence, a financing agreement and a closing checklist for the same acquisition. The coordinator links them to an approved transaction matter with separate workstreams and responsible reviewers. The department can see the overall next milestone without losing the owner of each workstream. Counsel decides whether any work requires a separate engagement or restricted record.
Define What Counts as One Matter
Choose a consistent opening rule. One transaction may contain several related agreements; one dispute may have many requests and filings. Decide when related work stays in the same record and when it needs a separate matter linked to the original.
Use a stable matter identifier. Keep the title concise and avoid putting sensitive allegations into titles visible to a broader audience. Record confidentiality restrictions and test them before inviting business users or outside counsel.
Connect Matters to the Records Around Them
A matter number should connect the intake request to the documents and spend associated with the assignment. Decide which system owns each field before synchronizing it elsewhere. If the entity name changes in one place, the team needs to know how the other records will be corrected.
Jonathan’s Oaktree experience managing corporate, fund and deal entities informs an important distinction: one acquisition may involve several entities, while the same entity can appear in many matters. Keep those relationships explicit. CLOC’s technology framework includes connecting legal systems around their functions; the practical design work is deciding which records need to travel between them.
Make Status Describe the Work
Agree what each status means. “Awaiting Information” should identify the requested item and the person being asked. “Awaiting Decision” should identify the decision owner. Add an expected update date so the record has a reason to be revisited.
When a matter is paused, record the reason and who can restart it. Keep the last substantive update separate from the date someone merely opened the record. That distinction helps the team find work that has stalled without treating every quiet matter as overdue.
| Field | Example |
|---|---|
| Purpose | Coordinate the acquisition’s legal workstreams |
| Lead | Assigned transaction attorney |
| Current Milestone | Resolve outstanding diligence questions |
| Dependency | Finance to confirm the funding structure |
| Source of Truth | Linked approved document workspace |
Close the Record Deliberately
Confirm the outcome, outstanding obligations, final documents and responsible business owner before closing. Route preservation and retention questions to the appropriate attorney or records owner. Closing a matter should not automatically delete its documents. A useful closure note explains what was completed and what moved into ongoing administration.