Understanding and Drafting Technology Contracts: Avoiding Common Pitfalls

Presented by Michael R. Overly

(8,619 Ratings)

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Course Description

Length: 1h 3min Published: 5/18/2023

Attorneys involved in negotiating technology contracts must be aware of several issues and pitfalls common with technology transactions. This program will dive into the most important aspects of technology contracting, including trends, information collection, pre and post contract diligence, and key contract provisions found in most technology contracts.

Learning Objectives

* Get an overview of recent trends in technology contracts

* Understand how to conduct pre and post contract diligence

* Learn the ins and outs of the key provisions contained in virtually all technology contracts

Read the course transcript.

Speaker Q&A

Question

How can "contract float" be legally binding? Basic contract law requires a meeting of the minds on all material terms. If some of these terms are not in the agreement, not sure how a contract can be formed. Have courts upheld these contracts when challenged?

- AdamF

Answer

It’s a great question. The simple answer is that this type of drafting has been used for over thirty years. In the business to business context, this type of drafting is almost always upheld. In fact, if you remember the failed UCITA uniform law, it has drafter’s notes that go into this topic in detail. Track them down for more information. Bottom line: the customer is put on notice of the terms, the terms are incorporated into the agreement (but can float), and the customer accepts the approach.

- Michael R. Overly