On Demand Webinar
Webinar Details $219
- Webinar Length: 100 Minutes
- Guest Speaker: Jim Bergman , Mark Cohen
- Topic: Business Skills, Purchasing
- Credit: ATAPU 1.5, CPE 2.0
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Today’s economy is described as volatile, uncertain, complex, and ambiguous - and many of the supporting commercial contracts can be similarly described. However, there is progress being made in making contracts easy to read. Instead of contracts being written for attorneys, in ways which only attorneys can comprehend, the shift is towards contracts that users can understand. Clear contracts create value and reduce the risk of disputes. Learn how to create this new type of contract – the easy-to-read contract.
Your Benefits of Attending:
- Explore the flaws and shortcomings with traditional contracts
- Learn why many contract templates are outdated
- Identify what is an easy-to-read contract
- Learn the many benefits of using plain English rather than “Legalese”
- Learn how to create an easy-to-read contract
- Understand the contract development team and each member’s role
- Establish a checklist on how to implement the easy-to-read contract
- Anticipate the barriers and hurdles in the transition
- Assess the cost and benefit of making the transition
- See examples of how poorly drafted contracts resulted in unnecessary litigation
- See examples of leading practices
- Receive easy to understand sample boilerplate clauses
Join Jim Bergman and Mark Cohen as they walk you through creating an easy-to-read contract.
- Introduction
- Summary 00:
- Summary - Commercial Contracts 00:02:33
- Summary - Writing Contracts 00:03:36
- Summary - Understanding Contracts 00:04:10
- Summary - Clear Contracts 00:05:47
- Summary - New Type Of Contract 00:06:34
- Today’s Learning Points - Outdated Contracts 00:17:43
- Today’s Learning Points - Easy To Read Contracts 00:20:07
- Today’s Learning Points - Benefits of Using Plain English 00:21:35
- Today’s Learning Points - Creating A Contract 00:21:52
- Today’s Learning Points - Contract Development Team 00:23:05
- Review of Contract Law Basics 00:25:18
- The Big Picture 00:29:23
- Meeting Of The Minds 00:30:01
- The Big Picture - Poorly Drafted Documents 00:32:36
- Flaws/Shortcomings With Traditional Contracts 00:33:47
- Benefits of Easy-to-Read Contracts 00:35:28
- Identifying an Easy-to-Read Contract 00:39:14
- Readability Statistics 00:41:33
- Poorly Drafted Contracts Result in Litigation 00:43:00
- Best Practices 00:48:54
- Address Dispute Resolution 00:52:38
- Ways to Draft a Bad Contract 00:53:27
- Common Mistakes 00:55:54
- Use Plain English and Avoid 00:57:40
- Sample Boilerplate Clauses in Plain English 00:58:44
- Sample Boilerplate Clauses in Plain English Cont’d 01:01:20
- Sample Boilerplate Clauses in Plain English Cont’d 01:02:38
- Sample Boilerplate Clauses in Plain English Cont’d 01:03:35
- Sample Boilerplate Clauses in Plain English Cont’d 01:04:05
- Action Items - Establish A Checklist On How To Implement The Easy-To-Read Contract 01:05:20
- Action Items - Anticipate The Barriers And Hurdles In The Transition 01:13:07
- Action Items - Assess The Cost And Benefit Of Making The Transition 01:19:07
- Action Items - Look For Examples Of Poorly Drafted Contracts 01:24:15
- Action Items - Continue To Search For Examples Of Leading Practices 01:27:22
- Action Items - Develop Easy-To-Understand Sample Boilerplate Clauses 01:32:27
- Summary 01:36:18
- Speaker Contact Information 01:40:52
- Presentation Closing 01:41:32
- Ambiguity 00:33:14, 00:33:23, 00:44:16, 01:02:55
- Artificial Intelligence (AI) 00:06:04
- Boilerplate Clause 00:58:44, 01:01:33, 01:32:28
- Contract 00:03:13, 00:07:00, 00:11:43, 00:17:52, 01:23:16, 01:24:25, 01:28:31
- Contra Proferentem 00:07:34, 00:11:26
- Cost-Benefit Analysis 01:21:04, 01:36:48
- Indemnity 00:46:42, 00:47:06, 00:47:29
- Legalese 00:22:30, 00:22:39, 00:22:55, 00:49:26
- Litigation 00:32:41, 00:51:58, 00:53:22, 01:26:23
- Negotiation 00:20:38
- Stakeholder Map 01:18:29
- Stakeholders 01:20:06, 01:20:52
- Supplier 00:11:49, 01:28:52
- Value Leakage 00:18:13
Ambiguity: The quality of being open to more than one interpretation; inexactness.
Artificial Intelligence (AI): Artificial intelligence is intelligence demonstrated by machines, as opposed to the natural intelligence displayed by humans or animals.
Boilerplate Clause: A boilerplate clause typically follows a standard format and they contain carefully drafted language to ensure the provision will be upheld by the court. It is common for parties to skip over and not read boilerplate clauses which results in them not understanding what they have agreed to.
Contra Proferentem: Contra proferentem, also known as "interpretation against the draftsman", is a doctrine of contractual interpretation providing that, where a promise, agreement or term is ambiguous, the preferred meaning should be the one that works against the interests of the party who provided the wording.
Contract: A written or spoken agreement, especially one concerning employment, sales, or tenancy, that is intended to be enforceable by law.
Cost-Benefit Analysis: A cost-benefit analysis is a systematic process that businesses use to analyze which decisions to make and which to forgo. The cost-benefit analyst sums the potential rewards expected from a situation or action and then subtracts the total costs associated with taking that action.
Indemnity: Security or protection against a loss or other financial burden.
Legalese: Legalese informally refers to specialized terminology and phrasing used by those in the legal field and within legal documents. Legalese is notoriously difficult for the public to understand.
Litigation : The process of resolving rights-based disputes through the court system, from filing a law suit through arguments on legal motions, a discovery phase involving formal exchange of information, courtroom trial, and appeal.
Negotiation: The trading deliberations which generally lead to the lowering of prices by the vendors.
Stakeholder Map: Stakeholder mapping is the process of identifying key stakeholders (i.e. individuals or groups with a vested interest in your product or project) and understanding their relationships with each other. This helps you to develop an informed strategy for managing stakeholders throughout the product development process.
Stakeholders: A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers.
Supplier: A supplier is an entity that supplies goods and services to another organization. A supplier is usually a manufacturer or a distributor. A distributor buys goods from multiple manufacturers and sells them to its customers. Similar Terms. A supplier is also known as a vendor.
Value Leakage: The difference between the value expected from a contract and the value realized in its implementation during its lifetime.
