Key Takeaways: Federal agencies with HIPAA oversight provide helpful resources when creating BAAs–start there, but don’t stay there. Signal in the services agreement the existence or non-existence of a BAA to save work for your client. Don’t get so focused on meeting the regulatory requirements that you lose sight of how the BAA or related services agreement limits your remedies under the BAA. Business associate agreements (or “BAAs”) are HIPAA-required, healthcare-related contracts that govern the sharing, use, protection, and return of protected patient information.  HIPAA refer ..read more

Access On Demand Webinar: How to Redline Contracts in Microsoft Word Redlining contracts can be frustrating when you don’t know how to use Microsoft Word’s features to your advantage. According to a recent poll, 91% of contract negotiators (myself included) use MS Word to redline contracts. But no one ever taught us how to leverage Word for more efficient contract reviews, redlines, and negotiations. Until now! In this article, I’m going to show you how to master Word features which will lead to faster contract reviews, less back-and-forth, more enjoyment of your work, and greater negot ..read more

KEY TAKEAWAYS: It’s crucial for content creators to be aware of their legal rights, including copyright, fair use, licensing, and intellectual property. When entering brand deals or collaborations, three terms are often heavily negotiated: usage rights, exclusivity, and compensation. Having a contract playbook with fallback positions and best practices can help streamline negotiations. The creator economy has seen exponential growth in recent years, with companies in various industries recognizing its validity and impact. According to Insider Intelligence, sponsored content on social m ..read more

KEY TAKEAWAYS: Discover why independent contractor reclassification risk is a significant concern for companies engaging external professional resources, and comes with substantial legal, financial, and operational challenges. Understand how relying on traditional risk mitigation strategies can be costly and detrimental to long-term projects that rely on the experience and continuity provided by these resources. Learn how embracing a thoughtful contract design can significantly reduce the risk of reclassification while allowing companies to retain valuable professional talent. In today ..read more

KEY TAKEAWAYS: There is a clear connection between clear and unambiguous work requirements and supplier performance. There are three often overlooked concepts in work requirements that once clarified ensure value to the parties. You do not have to be a Subject Matter Expert to enhance the work requirements and ensure value from the relationship. According to a 2011 report conducted by the World Commerce and Contracting Association, 88% of respondents indicated that raising the quality of requirements was the number one factor to improved contract performance. Requirements are usually ..read more

KEY TAKEAWAYS: With continued innovation in areas such as AI-powered applications and 5G edge computing capability, SaaS solutions will undoubtedly continue gaining popularity among tech-oriented businesses. Business teams on both sides of a SaaS arrangement may wish to sharpen their understanding of the key legal issues associated with a subscription services agreement, particularly if they are to play any role in their company’s review or negotiation of a such deals. This article contains a checklist of the 15 most common issues in a SaaS agreement from both the SaaS provider side and the ..read more

Edited for Contract Nerds from Foster’s Newsletter, “Mastering Commercial Contracts.” KEY TAKEAWAYS: Payment terms in SaaS agreements define how fees are agreed upon, invoiced, and handled, requiring harmonization between the main agreement and any accompanying orders. Clear payment terms are crucial for minimizing disputes and ensuring transparency in SaaS agreements. To promote long-term relationships, use suspension procedures rather than termination triggers for payment issues. Register for FREE Webinar: Advanced SaaS Agreements (March 21, 2024) Terms and conditions on payment ter ..read more

KEY TAKEAWAYS: Contracts should prioritize business needs over legal battles to speed up deal closures. Educating business teams on non-negotiables aligns expectations and streamlines negotiations. Adapting contracts based on historical data and client feedback can significantly reduce negotiation times. If you want to speed up deals as a lawyer, there’s one thing to keep in mind above all else: business contracts are not between you and the other lawyer. They’re between two businesses and need to be treated as such. Often, lawyers treat contract drafting and negotiation as a fight b ..read more

KEY TAKEAWAYS: Stay curious and connected to keep growing. Be a resource to business clients by staying approachable and incorporating feedback. Make everyone’s life easier by prioritizing simplicity where you can. The role of a Contract Manager is to get to know the business they’re in and reflect the business’s risk tolerance, processes, and preferences through the lifecycle of a contract.  Contract Managers are the unsung heroes in construction, as my mentor says. The same is true for Contract Managers in various industries, whether it be government contracts, tech startups ..read more

Edited for Contract Nerds from Foster’s Newsletter, “Mastering Commercial Contracts.” KEY TAKEAWAYS: There is an increase in the significance of the right of a SaaS provider to “de-identify” or “anonymize” customer data in its SaaS solution. You can save time and confusion when you understand whether your SaaS agreement needs data to be de-identified or anonymized. The placement of a de-identified clause can change the strength and significance of the rights to the data.  Register for FREE Webinar: Advanced SaaS Agreements (March 21, 2024) Data rights–there is so much to unpack w ..read more