Viewing: contract negotiation

Five Tips for Keeping Track of Contract Versions

It's important not to lose control when you're negotiating a contract. I'm not talking about losing your cool, but staying on top of contract versions. Here's an example from my professional youth: I was negotiating a contract for a large company during my first or second year of practice. There was a lot of back […] Read More

Contracting Triage

Legal triage is an everyday part of business. It’s rarely anything so dramatic as the action you see on TV hospital dramas, but businesses constantly have to decide which legal issues are critical, which are important, and which can be put off for a while — or even ignored altogether. I’ve often advised people to […] Read More

When a Document Says It Isn’t a Contract, It Isn’t a Contract

In his lesser-known recent opinion in which ostriches make an appearance, Judge Richard Posner of the U.S. Seventh Circuit Court of Appeals considered whether a memorandum of understanding and a letter of intent formed binding contracts. As you might have guessed from this post’s title—which is a quote from the opinion—the answer was no. (In […] Read More

Digitech Computer v. Trans-Care: Monday-Morning Contract Analysis

Every once in a while I read a court’s opinion and want to know the back story. That’s how I feel about last month’s Seventh Circuit decision in Digitech Computer v. Trans-Care. Here’s a short version of the business story from the Southern District of Indiana’s three separate opinions and the Seventh Circuit’s opinion. Trans-Care personnel met […] Read More

Contract Hygiene: Five Healthy Contracting Habits (Part 2)

In this recent post I discussed some habits that businesses can adopt to increase their contract hygiene. These practices, which can improve a business’s health, are inexpensive and effective, yet often neglected. To recap, the first three habits are: Negotiate before you sign. Give important contracts special attention. Don’t sign the other side’s boilerplate terms […] Read More

Contract Hygiene: Five Healthy Contracting Habits (Part 1)

“As few as 50% of restaurant workers wash their hands.” I was introduced to that disturbing stat during a presentation about some sort of high-tech handwashing tracking device that could monitor which employees were washing their hands. I’m not sure whether it was mounted to the sink or the soap dispenser or exactly how it […] Read More