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Clause Of The Month
In today's economic climate, with large-scale vendors swallowing increasing shares of the customer marketplace, such vendors may be emboldened to push for contractual exclusivity provisions in negotiations with customers; that is, a requirement that in the future, the customer purchase from the vendor exclusively any additional amounts of services of the type being provided by vendor under the current arrangement.
Customers typically balk at such exclusivity provisions, seeking more flexibility for themselves in future dealings. The following clause is drafted to strike a balance between the vendor's desire to lock in future business and the customer's desire to remain flexible.
Customer shall use good faith efforts to allow Vendor to bid to provide additional amounts of services of the type currently being provided by Vendor under this Agreement, where Customer is giving third parties the right to bid to provide such services for Customer; provided, however, that Customer shall have no obligation to award such additional amounts of services to Vendor.
John A. Gliedman is a senior associate in the New York office of Brown Raysman Millstein Felder & Steiner LLP.
In today's economic climate, with large-scale vendors swallowing increasing shares of the customer marketplace, such vendors may be emboldened to push for contractual exclusivity provisions in negotiations with customers; that is, a requirement that in the future, the customer purchase from the vendor exclusively any additional amounts of services of the type being provided by vendor under the current arrangement.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?