Contracts, Business & Corporate Law Blog
The Essential Contract Review Checklist - Part 5: Indemnification - Shielding Against Risks and Costs
In Part 5 of the Essential Contract Review Checklist, I examine the complexities of the indemnification clause, a key risk allocation tool in commercial and technology agreements. I dive into the strategic nuances of indemnification clauses, breaking down the critical elements such as which parties are indemnifying, who is being indemnified, and the specific events that trigger these obligations. By understanding the intricacies of “defend”, “indemnify”, and “hold harmless” provisions, as well as the scope of covered damages and claims, readers can effectively navigate the delicate balance of protecting financial interests while minimizing risk exposure.
The Essential Contract Review Checklist - Part 2: Primary Duties and Obligations - The Core of the Contract
Clear and precise delineation of duties and obligations is essential for any successful contract. This section serves as the operational blueprint, defining what each party is responsible for and how their performance will be measured. In this article, which is the second in a series of articles, I explore how to structure these obligations with specificity, establish measurable performance standards, and set realistic timelines to ensure accountability and minimize disputes. By carefully reviewing these key elements, you can create a contract that protects your interests while fostering a productive and long-lasting business relationship.
The Essential Contract Review Checklist - Part 1: Identifying the Agreement, Parties, Effective Date, and Definitions
A robust contract review checklist is an indispensable tool when it comes to any agreement. This article, which is the first in a series of articles, focuses on the nuances of crafting clear titles, introducing parties accurately, establishing effective dates, defining key terms, the importance of hyperlinking & bookmarking, and laying out the deal background in the recitals. Mastering these foundational elements sets the stage for a solid, unambiguous contract that safeguards interests and fosters successful business relationships.