Welcome to “Law 101: Hints & Issues.”
See below PowerPoint Lesson on how to negotiate a Service & License Agreement.
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Volume 2023, Issue #3: Contract Hints & Legal Issues: March 2023
Contract Negotiation 101: Service & License Agreement
1. Based on the below verbiage, what type of contract are you agreeing to?
In the event you as an individual or entity, continue past this slide and/or participate in this course, you agree that Raymond G. Husum doing business as ESL Legal Academy: (1) is the Copyright Owner of this lesson and recording thereof, including, but not limited to, use of your likeness, and (2) grants you a license to use it, provided, however, such license terminates upon termination of this lesson.
Answer = Unilateral Agreement
2. What is the number one rule for negotiations?
Answer = Practice makes Perfect!
3. Do you know what an Element in Contention (EIC) is?
Answer = An EIC is a word, provision or legal subject matter that must be negotiated and agreed upon by the parties before negotiations may conclude.
4. What are/is the EIC in this negotiation? See Lesson.
5. What is the Six Step of the 12 Secrets of Contract Negotiations?
Answer = Find out Reason for Change or Party’s Concerns
6. What does a Service Level Agreement (SLA) describe?
Answer = The network uptime and remedies related to downtime.
7. What are Best Efforts?
Answer = A party's obligation to perform at a level higher than commercially reasonable or reasonable, or in other words, to leave no stone unturned.
8. What is an Exclusive Remedy?
Answer = Specified Damages that may supercede Direct and/or Indirect/Consequential Damages.
9. What Negotiating Strategy would you use to convince the other party to agree to:
(1) Best Efforts;
(2) Liquidated Damages; and
(3) Eliminating Service Credits.
To see our negotiating strategy, please Left Click on your mouse for best viewing. Otherwise, you can use Arrows at bottom of PowerPoint Presentation to proceed through lesson. Find a colleague for this lesson. During the lesson, you can be either the provider/seller/vendor or recipient/buyer/vendee of a good of service.