This is the first in a series of articles with respect to negotiating contracts for technology transactions, such as software licenses, cloud transactions and business process or IT outsourcing deals. These products and services often are critical factors in a company’s success or failure, and recent technology failures by major institutions and companies, such as the rollout of healthcare.gov and data breaches at major retailers, underscore the need for effective agreements governing these deals.
Technology transactions are unique because they frequently involve a long-term relationship between the provider and the buyer. Thus, the contract must not only reflect the parties’ agreement, but it must also address anticipated changes, such as an increase or decrease in the volume of product or services being purchased, and also establish a framework for the parties to respond to unanticipated changes, such as changes in law, the nature of the buyer’s business, or advances in technology.
Step 1: Assemble the Team
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