In many standard service agreements, providers will typically be required to deliver their services in accordance with generally accepted industry standards and practices and with professionalism and a level of skill appropriate to the agreement’s demands. While this standard often serves as a benchmark, it is rarely spelled out in detail. To reduce ambiguity, some agreements may go a step further, introducing a defined term to capture the expected service quality.
Tech & Sourcing @ Morgan Lewis
TECHNOLOGY TRANSACTIONS, OUTSOURCING, AND COMMERCIAL CONTRACTS NEWS FOR LAWYERS AND SOURCING PROFESSIONALS
We invite you to join us for the next installment of the Morgan Lewis M&A Academy webinar series on Tuesday, December 3, 2024, at 11:30 am ET.
We invite you to join us for Data 2025, our upcoming Tech & Sourcing webinar series. In this series of webinars, our lawyers will consider the key global challenges facing businesses in their use of data.
UK financial regulators recently published their supervisory expectations for critical third party service providers (CTPs) to the financial sector under the United Kingdom’s new regime extending regulatory oversight to CTPs. The final rules align with key themes of other regulatory regimes seeking to reinforce operational resilience (e.g., the EU Digital Operational Resilience Act (DORA)) around risk management, supply chain management, and incident management, among other areas.
The rapid adoption of generative AI (gen AI) is driving increased cloud consumption.
In the case of the ownership of intellectual property (IP) developed by a supplier as part of a service agreement with a customer, should the traditional position that the customer should own all developed IP always be the position agreed upon by the parties?
The UK Financial Conduct Authority (FCA) on October 31, 2024 published observations and key lessons from how firms responded to the CrowdStrike IT outage. The outage caused disruption across several industries globally, and the FCA highlights for UK financial services the importance of ensuring operational resilience in order to minimize the potential impact of future events on consumers and markets.
According to OECD data, by 2020 digital trade represented 25% of global trade, amounting to just under $5 trillion. Digitalization of economy is on the agenda for many national governments as they come to appreciate the transformative power of technology in reducing transactional expenses and improving the competitiveness of their economies.
Artificial intelligence (AI) is top of mind for all businesses looking to grow. Economic researchers point to AI as a key factor to boost the economy, and believe that AI could result in billions, if not trillions, of dollars in technology-related spending. However, this potential growth will not be possible in isolation; it requires massive amounts of supporting infrastructure.
On October 30, Morgan Lewis will be hosting the annual Tech & Sourcing Summit in New York. This full-day event will bring together our lawyers and industry leaders and conclude with a keynote speech by best-selling author and renowned futurist Dr. Daniel Susskind and a networking reception.