Without noticing, we all enter into contracts everyday. As for the businesses, entering into contracts is like breathing. Even so, the importance of contracts is generally missed or underestimated. From shopping from an e-commerce website to making a complex commercial contract, nearly everything in a person’s or business’ life involves making various types of contracts on a daily basis. There are various types of contracts on which we advise our clients in terms of drafting, management and termination, that includes NDAs, confidentiality agreements, employment contracts, purchase contracts, construction contracts, intellectual property license agreements, share purchase agreements, shareholders agreements, joint ventures, distributorship contracts, franchise agreements, alliance agreements, professional sports contracts, exclusivity agreements, inheritance contracts, real estate purchase agreements and so on.
Business contracts’ importance lie in their role in creating official records, thwarting misinterpretations, warranties, representations, defining or transferring the rights you and your client possess, dealing with how to protect or transfer intellectual property rights, securing the payment obligations, delivering confidentiality clauses when needed, etc. Drafting a contract is a demanding and a gradual process which has to be taken care of diligently. In a similar manner, termination of a contract and more importantly, the consequences associated therewith are equally critical. Always, there has to be an exit strategy in place envisaging the cause and procedure for termination and the situation after termination. Depending on the type of termination (either retrospective or prospective), indemnities, liabilities, contractual rights, title to the properties delivered or works performed, warranties and similar contractual matters gain prominence after such a relationship ends.
Even in cases where a contractual relationship is over, certain clauses surviving the termination or expiration would allow you to benefit from counter parties’ obligations relating to loyalty, non-compete, non-solicitation, confidentiality, intellectual property rights and the like. While drafting, negotiating and terminating a contract, our priority is to understand and protect what you value. We design everything based on our clients’ valuable interests and apply a proactive and agile strategy.
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