- Commercial Contracts: Fault Mines in Fine Print
- September 12, 2004
- Law Firm: Andrews Kurth LLP - Austin Office
What are the most typical pitfalls you see today in commercial contracts and agreements?
Verbal precision is the coin from which fine agreements are minted. Stress is precision's enemy. Consequently, settlement agreements are fault mines. When settling an IP case, consider the following pitfalls:
- As an assignee, make certain the contract prevents the assignor from challenging the property it just conveyed.
- Don't take a license to "Improvements" if they are already in the scope of a patent the company already owns.
- Before signing on the dotted line, put the paper down, walk around the block and then read it again -- aloud.