How often have you battled over best efforts vs. commercially reasonable efforts, used “work for hire” language thinking it would offer broad intellectual property protection or found yourself excluding “consequential...more
Whether to terminate of a complex agreement for material and/or repudiatory breach is a common and yet difficult decision to make as a business (and to advise on as a lawyer). And, given the unpredictability of the outcome,...more
The need to control risks associated with using third-party technology service providers was reemphasized by the FDIC for institutions with less than $1 billion in assets in a new financial institutions letter...more
In recent years, bank regulators have increased their efforts to require banks to appropriately handle third-party risk management. On April 2, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution...more
On April 2, 2019, the FDIC issued Financial Institution Letter FIL-19-2019 (the “Letter”) to remind financial institutions about certain contractual provisions and other requirements pertaining to technology service provider...more
All contracts follow a similar pattern in their structure. They first contain an introduction (known as “Recitals”) that sets forth the purpose of the contract and the expectations of the parties in entering into the...more
Patent license royalty payments can be habit-forming. Some patent licenses have terms extending for potentially two decades or longer. As a result, patent licenses are frequently filed away never to be seen again....more