We've all made mistakes while entering data quickly. Either transposed letters or just forgetting to use uppercase letters for a party name will create a dropdown option in the My Company or Counterparty smart fields that others can use. Before you know it, multiple records have a party name that you want to correct.
*New* A dedicated settings page for managing My Company options
We heard your feedback and are glad to share that My Company options can now be managed in Settings>Company Settings>My Companies
From here, you can rename, merge, delete, and set the default My Company.
Alternative option: By opening one of the contracts that use these fields
In the My Company or Counterparty field, click the "contact" icon as shown below:
From here, simply modify the name that appears at the top, and it will automatically save (and update all records with that specific party):
For Counterparties: Merge similarly named Counterparties via the Contracts List.
Step 1: Go to your Contracts List
Step 2: Click on the filters dropdown and apply the Counterparty filter. Include all similarly named counterparties that you'd like to merge. This is illustrated on the screenshot below:
Step 3: Using the uppermost checkbox on the Contracts List, select all contracts. 
Step 4: Click "edit" and select "Counterparty". From the next dropdown under Counterparty, select the correct counterparty name. Don't forget to click save!
Now all of the selected contracts will be using the same Counterparty name. In some cases, contracts may be using a "Counterparty 2" and/or "Counterparty 3" or more of the same fields. Use the same steps to bulk edit these fields as well.
A counterparty name is permanently removed from the drop-down list only once it is no longer associated with any contracts in your system. If you can still see an unwanted counterparty, then it is still in use on at least one of your contracts.
If you have any other inquiries, please reach out to support@contractsafe.com