Floating Terms in Vendor Contracts: Cloud Services, Software Licenses, and Communication Agreements
Mitigating the Risk of Unilateral Vendor Changes to Key Terms
Recording of a 90-minute CLE video webinar with Q&A
This CLE course will discuss the myriad of risks with "floating" vendor contracts for businesses. The panel will discuss why floating contracts are dangerous and best practices for businesses to mitigate the risk of vendors unilaterally changing key terms of their agreements. These issues arise in almost every type of technology contract from cloud services, to software licenses, to telecommunications agreements.
What are floating contracts and why are they dangerous?
- How can businesses mitigate the risk of vendors unilaterally changing key terms of their floating contracts?
The panel will review these and other key issues:
- The definition of floating contracts and the risks they pose to businesses
- Effective approaches to mitigating the risks of floating contracts (methods of locking in terms, safety in numbers, falling back on termination rights)
Michael R. Overly
Foley & Lardner
Mr. Overly focuses his practice on drafting and negotiating technology related agreements, software licenses, hardware... | Read More
Mr. Overly focuses his practice on drafting and negotiating technology related agreements, software licenses, hardware acquisition, development, disaster recovery, outsourcing agreements, information security agreements, e-commerce agreements, and technology use policies. He counsels clients in the areas of technology acquisition, information security, electronic commerce, and on-line law. He is the co-author of A Guide to IT Contracting: Checklists, Tools and Techniques (CRC Press, 2012).Close