3 Reasons Contracts Should Be a Win-Win

3 Reasons Contracts Should be Win-Win In my practice I have always advocated that contracts should be a win-win, i.e., they should provide equivalent benefits to both parties. Here are three (of many) reasons why I think that’s so. Failure of Purpose. If you are doing...

The Contract With a 500-Pound Gorilla

Whatever the size of your company, eventually you will be dealing with a contract with a 500-pound gorilla for the first time – a very large multinational, or just a company that is much larger than your previous clients/ customers. This is a good thing, as it means...

The Escalation Procedure

An escalation procedure commits people on both sides of a contract to meet and attempt to resolve disputes without costly arbitration or litigation. If there is no procedure agreed to in the initial document, the parties may find it difficult to work out a process to...

6 Elements of Good SOWs

Much of the work I perform for high tech enterprises deals with Statements of Work or Scopes of Work (there may be other names out there as well – I will call them SOWs.) The SOW can be a major stumbling block in a project if it is not properly written. One reason it...

Strict Data Protection Policies

Large companies are tightening up contractual data protection policies for vendors. I am seeing tough requirements in agreements that one might expect: Limits on the personnel that could access the data Prohibitions around the data’s storage on portable devices...