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TECHNOLOGY, OUTSOURCING, AND COMMERCIAL TRANSACTIONS
NEWS FOR LAWYERS AND SOURCING PROFESSIONALS
A significant fine imposed by the UK’s Financial Conduct Authority (FCA) on an established UK insurer is further evidence of the increased scrutiny being placed on outsourcing arrangements by the financial services regulator, and also of the importance the regulator places on issues that directly impact retail customers.
A shrinking in traditional outsourcing deal volumes since the United Kingdom's EU membership referendum vote on June 23, 2016, is being partially attributed to business caution following the “Brexit” decision.
Drafting and negotiating the data protection provisions in services agreements can be one of the trickier and more time-consuming aspects of the contracting process.
There are books out there that get into great detail and can be very useful in developing negotiating skills (one of our favorites is Never Split the Difference by Chris Voss). In our experience, though, many negotiators that we come across either have an inflated view of their skills and can’t be bothered with reading a book like this, don’t have the time to read a book like this, or read the book and just can’t make the techniques work.
There is an adage that basically says that businesses don’t do business—people do business. That might seem obvious, but it’s useful when one stops and thinks about the interplay between a contract, how that contract is negotiated, and whether the relationship between the people who will be doing business can survive the negotiations.
It seems that there are many forces at play that are almost designed to create or exacerbate change anxiety. Professionals in industries whose business models depend on stoking our change anxiety bombard us with article after article on social media.
Nearly every form of service agreement contains a provision restricting the ability of one or both parties to subcontract their obligations.
European financial institutions (competent authorities, credit institutions, and investment firms as defined in EU Regulation No. 575/2013, collectively Institutions) have been instructed to comply with the European Banking Authority’s (EBA’s) recommendations when outsourcing to cloud service providers (Recommendations) as of July 1, 2018.
When in-house lawyers start thinking about how to support a business client that is looking to implement a new or replacement enterprise resource platform (or more commonly known as an ERP system), we often suggest that they first discuss these 10 framework issues to get a sense of the scale, complexity, and timing of the potential transaction.
In Part 1 of this Contract Corner on Software as a Service (SaaS) agreements, we discussed ownership and use issues in SaaS transactions where the application is provided and hosted as a dedicated instance with common base software (sometimes with customization or variation) but running as a separate instance in a dedicated environment.