How to Avoid Legal Pitfalls of Negotiating Contracts?

Negotiating and Bargaining
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Negotiating and Bargaining > Forum

Mohammad Hamdan, Russian Federation
Every aspect of a business requires contracts of some kind, which have to be negotiated before signing them. Sometimes contract negotiations can be tricky, particularly for businesses in which the management team is less experienced. So you need to make sure you know how to keep things in order. This contribution highlights some of the major legal pitfalls that your business should avoid during contract negotiations.
  1. CONFIDENTIALITY: Sometimes you have to go into secret details of your business to persuade the other party to contract. In such cases, before starting the negotiation, make sure that the confidential information such as "know-how" (provided during the process) will not be disclosed. This is done by signing a pre-negotiated agreement called a "non-disclosure agreement". Make sure to add to this agreement keywords such as: confidential, do not show to another person, return or destroy if the contract is not completed.
  2. SENSITIVE INFORMATION: If the other co (...) Read more? Sign up for free

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More on Negotiating and Bargaining
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Forum
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