Friday, April 29, 2011

Contract Killers: The Importance of a Contract Lawyer

While litigation related news manages to grab people's eyeballs on a day to day basis, the workings of those lawyers that are involved in contract negotiations are no less intriguing or complex. Given that an executed contract, is the foundation stone of a business relationship, it is imperative that the counsels involved in the negotiation, drafting and execution of a contract ensure that the said contract is ironclad to safegfuard either party's interests; at the same time; is flexible enough to allow variations in relations to changing market scenarios.

Such seemingly diverse requirements, are especially critical in outsourcing contracts, given that such contracts are: a) multi-jurisdictional, b) long-term c) required to account for change in resources utilised.

With this in view, future episodes of the "Contract Killers" series will focus on some of the key terminolgies that find place in such contracts.

As always, your comments and suggestions are welcome on

Vikram Koppikar

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