A good contract is more than an outline of expectations between parties, it sets the foundation for the business relationship. It also serves as a reference in the event of misunderstandings and disputes. Kang Haggerty founding member Jackie Fetbroyt will serve as a faculty member for the upcoming National Business Institute seminar on December 6, 2021 – Advanced Business Contracts: Secrets Only the Top Attorneys Know. This online event focuses on refining attorneys’ contract drafting skills and negotiation strategies that will ensure the best possible outcomes for their clients. To learn more about the NBI seminar or to register, click here.
As a commercial transactional lawyer, I often speak to my clients and colleagues about contract management. While I am usually heavily involved in many stages of the contract lifecycle – most notably, negotiations, drafting, closings and amendments – the real work (and most problems) arise during contract performance, which is the time the contracting company is typically “on its own.” I stress to my clients that competent management of contracts post-execution is critical: your management team needs to know its contractual obligations: due dates and milestones, payment terms, and areas of performance. Who’s doing what, when, and for how much? I recommend companies appoint a contract manager to maintain each contract and its pertinent information, and create a database of performance, payment, and other obligation information, along with applicable deadlines and a “tickler” system.
Now, in the wake of COVID-19 and its tremendous impact on businesses, it is important to pull out those databases, and update them with information particular to the current state of operations – yours and your contracting partners. Continue reading ›
When considering creating a social media policy, it is important to keep in mind that you will never be able to completely control social media use by your employees. There are, however, a few ways that you can successfully create a social media policy that will allow you to place legal boundaries around media use.
1. Create a Policy and BE Informative: Notify your Employees that you are creating a policy. Keeping them informed mitigates future “I didn’t know” excuses. Also, employees have the legal right to be informed about any new policy change or creation.
2. BE Informed: Before you start drafting anything, be informed about recent legislation regarding Social Media policies and cases that have created different interpretations of existing policies. Three major examples are: