Business Contract Negotiation Fundamentals

• Overview
• Credits

Learn about contractual issues and potential solutions to help your business.Every business will enter into legally enforceable contracts with vendors, manufacturers, customers, renters and contractors. Businesses must learn how to anticipate favorable outcomes and unfavorable contract provisions. Every contract must be negotiated with an understanding that a breach of contract will cause costly and time-consuming litigation. This topic will help businesses understand the process of contract formation. Contract negotiation begins with an understanding of the crucial issues in contracts and how to negotiate a contract on favorable terms. The topic will also highlight examples of contractual issues and offer guidance on how to best position your business in the face of contract disputes. The material will explain critical problems that can occur if a diligent approach is not utilized in negotiating a contract. Every business needs to understand its contractual obligations and remedies. Businesses will be able to assess their outstanding responsibilities and learn how to navigate contract negotiation with skill and confidence.

Authors

Agenda

Developing Goals and Objectives Pre-Contract Negotiation

• What Risks Exist If a Careful Approach Is Not Utilized?

• How Can Quantity and Price Be Assured?

• Do We Need Performance Benchmarks and Specifications?

• Delivery Schedule

• Do We Want to Condition Payment on Meeting Conditions?

• What Do We Want to Avoid?

• What Protections Should We Have?

• What Remedies Should We Have for Breach?

Understanding How a Contract Is Formed

• What Is an Offer?

• What Constitutes Acceptance of an Offer?

• Meeting of the Minds on Contract Terms

• What Can Cause an Unfavorable Contract to Be Formed?

Analyzing Digital Contracts

• Can Digital Communication Create a Contract?

• Are Shrink Wrap Contracts Enforceable?

• Are Digital Signatures Enforceable?

Evaluating Information Technology Contracts

• Smart Contracts

• IoT Machine-to-Machine Transactions