Commercial Contracts for In-House Counsel: How to Negotiate a Limitation Of Liability Clause

#inhousecounsel #commercialcontracts #inhouseconnect The dreaded limitation of liability clause. It’s in most commercial contracts and is one of the most frequently negotiated legal clauses in a contract. You also get zero training at most law schools on how to draft and negotiate this clause. It’s an art to learn the dance of redlining and positioning, especially when it comes to this clause. Tune into the next edition of our IHC Essentials Series as Jessica Nguyen, Chief Legal Officer at Lexion and Nada Alnajafi, Author of Contract Redlining Etiquette, Founder of Contract Nerds, and Corporate Counsel at Franklin Templeton, bring their 15+ years of contract negotiation experience and share their tips on how to effectively negotiate a limitation of liability clause, including: – The purpose and components of a limitation of liability; – How to approach a limitation a liability clause and handle difficult negotiations; – Talk tracks to support negotiation for the vendor or for the buyer; and – Current industry standards for limitation of liability carve-outs and super caps. Viewers will come away from the program with key tips, tricks, insights and strategies to effectively negotiate a limitation of liability clause. PLEASE NOTE: THE VIDEO IS NOT CLE ELIGIBLE 00:00 Introductions 06:38 What Is A Limitation Of Liability (LOL) Cause 18:45 How To Negotiate The LOL Cause 34:00 Common Exemptions To The LOL Cause 40:23 Super Cap On Liability 44:11 Question 45:28 Tips For Redlining A Limitation of Liability Clause 51:16 Lets Connect/Questions