Commercial Contracts

In today's competitive business landscape, protecting sensitive information is crucial. Companies often rely on non-disclosure agreements ( NDA ) to safeguard their confidential information from being shared with competitors or the public. But do these agreements actually work? In this article, we'll explore the effectiveness of non-disclosure agreements. What is a Non-Disclosure Agreement? A non-disclosure agreement, also known as a confidentiality agreement, is a contract that is intended to ensure that information shared between parties is kept confidential. This information…

When appointing a new supplier there is often a dilemma over the issue of confidentiality. How do you strike the balance between sharing enough information to obtain the best deal without jeopardising confidential business information? It is imperative that business owners treat their confidential information with the utmost importance when appointing new suppliers. For example, sharing designs and recipes with other businesses can be risky if the process is not managed carefully with appropriate legal safeguards. How to mitigate the…

While some business transactions are quick and simple, many involve protracted negotiations as you shop around for the best provider of goods or services and negotiate hard to get the best terms and conditions. Some businesses in your supply chain may have a formal process for purchase orders and contract execution, while things may be more relaxed with smaller companies or ones where you have a longstanding relationship. Perhaps some of your supply chain have introduced electronic signatures and you…

Indemnities and limited liability clauses are often the most negotiated provisions in business contracts. It is a fine balance between agreeing appropriate risk and allocating protections, while at the same time remaining reasonable in order to conclude the deal. The two legal provisions have different purposes and sit on opposite sides of the contract. For example, it is easier to think of indemnities being useful for the customer or client in a contract: their prime purpose being protection. On the…

With predictable revenue streams, it is understandable why a subscription business is attractive. Recent years have seen the launch of various innovations, such as monthly recipe boxes, coffee pods or health products, with numerous digital apps adding to established subscription services such as magazines or a wine club. Online trading platforms, such as Shopify or Kofi, make it easy to set up a new business and the subscription model has taken on new life, but there is a web of…

A robust set of terms and conditions are essential for every business, allowing you to clearly outline the products or services you are selling, the terms on which you are selling them, and the steps that will be taken if things go wrong. Not only is it vital to get your terms and conditions drafted properly by a legal professional from the outset, it is equally important to review them regularly to ensure they remain fit for purpose and protect…

Commissioning a bespoke piece of software to meet your business needs is often an essential element to business growth and operational improvements. However, the project needs to be delivered with a plan that ensures the final delivery matches your vision and that if problems arise, there is a clear route to remedy. The way to achieve this is via a professionally drafted contract which is agreed before the software development begins.   The document does not have to be overly long…

You may need finance for your business to fund growth projects, maybe to fund the purchase of plant and equipment, diversification, or expansion.  Maybe the need to raise finance is to complete a management buy-out, to acquire a competitor or a complementary business, to purchase a freehold or leasehold commercial property, or to invest in a new corporate project. Whatever the reason you need to consider the finance options open to you and their potential pros and cons.  The devil…

Have you ever signed a contract which seemed to be perfectly clear, straightforward and reasonable at the time it was agreed, but which later turned out to be ambiguous in important respects or which gave rise to unintended and arguably unfair results? If so, you are not alone. Indeed, in our experience, many business contracts are not as clear as they could be and this can lead to all sorts of problems – particularly when things go wrong and parties…

Setting out the terms upon which you provide your goods or services to another business will reduce the risk of a dispute by making clear the expectations on either side. But what if a dispute arises and a client or customer claims that they have suffered a loss because of your product or service?