If you are considering purchasing software or a service from vendor, consider whether its founder or founding team has walked a mile in your shoes. Do they have experience as an in-house attorney? If so how much?
Even companies that may bounce back completely after the pandemic have loaded up on extra debt, including drawing down credit facilities, to weather these times. As a result of these trends, many companies are going to need to restructure their balance sheet and will likely use the bankruptcy process to do so.
Every week there is an announcement about a new AI tool, which you are welcome to purchase, install, interconnect with your other systems, train, and validate. It’s a lot like buying ready-to-assemble furniture: The pictures often do not match the results.
The next time one of your company's competitors is trying to kidnap what your colleagues have rightfully stolen, heed some of the important lessons from Rob Reiner’s film adaptation of S. Morgenstern's Classic Tale of True Love and High Adventure, The Princess Bride.
One of the most common, yet underappreciated clauses across a wide range of agreements is the dispute resolution clause. Dispute resolution clauses are often multi-tiered, to explore whether lower-cost, abbreviated methods will work before the parties need to engage in more expensive and procedurally elaborate methods.
Technology has created amazing efficiencies in our life and our workplace. We can work from home and stream movies on the train. We can collaborate on documents across thousands of miles and determine the exact location of our pizza that should have been delivered 17 minutes ago. A result of increasing technology usage is that a larger share of our economy is in the form of trade of intellectual property goods. By its nature, intellectual property is a figment of contractual rights, albeit sometimes embodied within a physical good.
Tech teams have developed a methodology to provide quality results that are a better fit with evolving customer needs and delivered at a much faster clip. If you work in tech, you’ve probably heard of it: agile development. Your law department should consider an agile approach as well.
In-house counsel are often the primary contact for negotiating certain types of contracts. However, in this role, you are not in charge of executing all the terms and commitments in each agreement. Agreements typically require many teams and departments to engage in or abstain from certain activities.
Whether it’s your first time as general counsel or your fifth time, it can be hard to figure out where to focus your attention. No doubt you will be called into countless meetings about impending decisions, most of which are tactical in nature. Don’t get so overwhelmed by the day-to-day agenda created by others that you miss setting bigger picture priorities.
As an in-house lawyer based in Silicon Valley, one of the most popular agreements is the nondisclosure agreement (NDA) or confidentiality agreement. The latest trend for corporate offices is to mandate that all visitors, including the pizza delivery person, sign an NDA on a tablet computer before taking a step beyond the lobby.
As in-house counsel, we are bombarded with warnings that the machines are coming to take our jobs and new software includes artificial intelligence (AI) that will handle key legal tasks for us. Should we be scared? Or perhaps be rejoicing?
As in-house lawyers, we often focus on helping our clients put deals together. When negotiating agreements to document these deals, we must think ahead about how to measure success, what might go wrong, and what happens next. A key component of “what happens next” should include a plan for ending the relationship in an orderly manner.
As an in-house counsel, one of your key roles is to negotiate agreements that obligate your organization and counterparties for many years. After these agreements are signed, the true value of the agreement begins to accrue and the real work begins. To be a great in-house lawyer, you need to get out of your office and communicate key information about these agreements to your operations team.
As an in-house lawyer, your workload is unlikely to decrease as new regulations arise, customer agreements are signed, and your business grows. Even if your business is shrinking, you will be engaged in renegotiating deals with suppliers and restructuring your employment and contractor relationships.
As in-house counsel, your non-lawyer colleagues are typically focused on running the business day-to-day and quarter-to-quarter, with growth as one of their most important metrics. In this article, we focus on the mindset you need to be an integral part of this effort.
On a regular basis, we are presented with headlines explaining how artificial intelligence (AI) is going take over our work so we can glide around on self-driving electric scooters all day while being hand-fed by robots. Yet when we go home and ask Siri to turn on the “lights,” it instead offers us treatment for “lice.”
Compare games like chess and Go to a typical legal document, such as a contract: Far more than six key terms are at play in most agreements. And the contract represents a business relationship that likely has multiple opportunities for winning and losing, depending on what is happening on a particular day.
It is a sign of the times when we have a dog-walking company (Wag Labs) raising US$300 million in venture capital to turn a household activity into a mobile phone-driven on-demand service. Meanwhile stalwart software licensors, ranging from Adobe to Microsoft, have switched their offerings to an ongoing subscription, rather than an upfront fee.
If you want a seat at the executive decision-making table, you need to think about contracts differently. The lawyer may be the handmaiden of the contract, but the real stakeholders in the contract are the company’s various business departments.
Most in-house lawyers agree: The number one item in the legal workplace that needs tidying is contracts. With the rise of software as a service (SaaS), businesses are hiring more specialists and suppliers than ever before.