Contract Teardown Show from Law Insider

In this episode, Heather Bowen Pascual shares principles for drafting and interpreting a Standard Vendor Agreement. She highlights the key clauses that feature in this common agreement, including:

• Term of agreement;

• Scope of work;

• Payment terms;

• Termination; and

• Exhibits.

Find the original contract here: https://www.lawinsider.com/contracts/7BDbuzTljTj

In this episode, Melinda Scott shares a limited partnership agreement meant to govern a commodity fund. She highlights important choices clients and lawyers must address around:

• State of formation and fund name;

• Risk disclosure and NFA regulation;

• Transfer and redemption powers for partners; and

• Audit norms.

Find the original contract here: https://www.lawinsider.com/contracts/7IbudIEbz7h

In-house legal teams often balance complex contract workflows, compliance demands, and litigation in process. Enlisting outside talent can be a game-changer, but how do you pick the right outsourcing option? Join our webinar with Pieter Gunst, CEO of Legal.io, where he will share his cost-saving framework for choosing the best outside partners for the job. We’ll cover critical aspects of outsourcing, including:

• Engaging outside counsel;
• Utilizing legal talent providers; and
• Leveraging managed service providers.

Discover how one company saved $1M by adopting these strategies and learn how your team can achieve similar success

Is Implementing CLMs Still Worth It for Legal Departments?

Once hailed as the pinnacle of legal tech innovation, Contract Lifecycle Management (CLM) systems are now facing scrutiny. Are they still worth the investment, or have they become a drain on time, money, and resources?

Listen in on this fireside chat where Law Insider President and Co-Founder, Preston Clark, was joined by Zach Abramowitz and Daniel Lewis to discuss the shifting landscape of contract management technology.

They cover the following subjects:

• Understand the Evolution: Learn how CLM, once the most exciting vertical in legal tech, has quickly transitioned to a legacy system.
• Identify Inherent Flaws: Discover the inherent flaws in CLM systems that create challenges for nearly every customer.
• Explore Alternatives: Legal departments now have numerous options to improve contracting without the high costs associated with traditional CLM systems.

In this episode, attorney Diane O'Connell tackles General Terms and Conditions that seem to be serving the purposes of other documents.

This particular set of terms apparently apply to customized software services in the healthcare industry. However, according to Diane, the terms seem misapplied. Questions surface as she compares the context to the language in these areas:

• Licenses granted;
• Indemnifications allowed; and
• Guarantees made.

Find the original contract here: https://assets.applytosupply.digitalmarketplace.service.gov.uk/g-cloud-13/documents/719046/815600321392652-terms-and-conditions-2022-05-16-1414.pdf

In this episode, attorney Stewart Banner shares his take on the current office lease environment by walking through a fairly standard contract.

He wrestles with the following key clauses:

• Repair and alterations;

• Rights of landlord;

• Assignment and subletting

• Surrender of premises; and

• Option to extend.

Find the original contract here: https://www.lawinsider.com/contracts/3VaKsk6LJVD

In this episode, attorney Laurie Ehrlich explains how a legal document like a Master Service Agreement can almost serve as an operations document. In this deal in which the two sides are highly intertwined, Ehrlich sees:

• Efforts to narrow an otherwise broad scope of work;

• Due diligence requirements shifting risk for overinclusive scope; and

• Practical benchmarking requirements.

Find the original contract here: https://www.lawinsider.com/contracts/iEYmFBpjjYH

In this episode, attorney Elizabeth Cronin highlights liability-shifting provisions in an event waiver. These documents are used to protect companies hosting public events organizers against claims.

Cronin details vital clauses for such waivers, including:

• Assumption of the Risk;

• Release of Claims;

• Covenant not to Sue;

• Indemnification; and

• Claim of Health Suitability.

Find the original contract here: https://tourofthegila.com/wp-content/uploads/2023/04/2023-USAC-Event-Waiver.pdf

In this episode, we're sharing an interview we hosted last year with Inter Alia Law's Darlene Tonelli.

Darlene shared how she connects legal departments and sales departments through good, early communication and a few deliberate systems. She uses the framing of software deals to drive the conversation, but these principles are helpful to anyone trying to get these two classically clashing departments on the same page.

We also share information about an upcoming webinar about how understanding the business will make you a better lawyer. To register for the webinar, go to lawinsider.com/resources and visit the webinar tab on the left.

Learn more about Darlene and Inter Alia Law here: interalia-law.com

In this episode, attorney Arohi Kashyap uncovers the high privacy standards that come with working in the healthcare industry using a Business Associate Agreement.

This contract passes requirements of the United States HIPAA regulations on to companies engaged by hospitals, doctors, and other healthcare institutions.

Kashyap details:

• Basics of a Business Associate Agreement, including when it is needed;

• Key procedures for protecting private healthcare information; and

• Standards for managing data breach incidents.

Find the original contract here: https://humanservices.arkansas.gov/wp-content/uploads/Attachment-D-Business-Associate-Agreement-BAA.pdf