Thad McBride, left, and Emily Burrows, right, of Bass, Berry & Sims. Courtesy photos Incorporating International Standards Into Contracts
This article provides a nonexhaustive overview of key terms that should be considered to enable businesses to effectively integrate international standards into their contractual agreements when managing AI or international trade to minimize risk, enhance transparency and build trust among the involved parties.
June 17, 2024 at 10:00 AM
5 minute read
Artificial Intelligence
In today's globalized economy, companies frequently engage in cross-border transactions, necessitating contracts that are not only legally compliant but also aligned with international best practices and standards. The European Union (EU) Parliament's adoption of the "AI Act" on March 13 and the expansion of international trade laws and regulations underscores the importance of ensuring that contracts with overseas entities remain up to date and precise. This article provides a nonexhaustive overview of key terms that should be considered to enable businesses to effectively integrate international standards into their contractual agreements when managing AI or international trade to minimize risk, enhance transparency and build trust among the involved parties.
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