- videocam On-Demand
- signal_cellular_alt Intermediate
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- schedule 90 minutes
Limitation of Liability Carveouts: Confidentiality, Data Security Breaches, IP, and Indemnification
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Description
Limitation of liability provisions are standard in almost every contract and are essential in helping the contract parties limit their risk. But these provisions may also contain broad disclaimers and exceptions.
Some exclusions are commonly accepted (as negotiated by the parties) since if certain damages were not excluded or "carved out" of standard disclaimers of and caps on liability, certain breaches of the contract would have either no remedy or a substantially inadequate remedy.
Issues can arise out of "bad conduct" carve-outs in indemnification and other limitation of liability provisions that when not properly drafted can defeat the intended purpose of limited liability provisions. Common practices for limitation of liability provisions also may vary based on the type of contract. For example, contracts for of sales of business may have carveouts to liability limitations that are not commonly found in supply or services contracts.
Listen as our expert panel discusses the types of carve-outs that are typical in limited liability provisions, when such carve-outs should be employed, and what risks can (and cannot) be mitigated.
Presented By
Mr. Allen is a corporate transactional attorney who concentrates his practice on M&A transactions, private placement transactions (both as issuer’s counsel and as counsel to venture capital firms, family offices, and angel investors), corporate and LLC governance and reorganizations, joint venture transactions, and complex commercial transactions in the areas of software licensing, industrial equipment sales, and significant supply, reseller, and distribution agreements.
Ms. Kennedy is a Technology, Transactions, Cybersecurity & Privacy Practice Group member within the firm’s Intellectual Property Department. She provides counsel on structuring and negotiating technology agreements to create strategic and advantageous business relationships between companies. Ms. Kennedy has experience drafting and negotiating commercial agreements, including intellectual property licenses, software-as-a-service agreements, distribution agreements, master services agreements, non-disclosure agreements, and technology transfer agreements. She also has experience structuring and addressing the intellectual property components of mergers and acquisitions and other corporate transactions.
Michael R. Overly is a partner and intellectual property lawyer with Foley & Lardner LLP where he focuses on drafting and negotiating technology related agreements, software licenses, hardware acquisition, development, disaster recovery, outsourcing agreements, information security agreements, e-commerce agreements, and technology use policies. He counsels clients in the areas of technology acquisition, information security, electronic commerce, and on-line law. Michael is a member of the Technology Transactions, Cybersecurity, and Privacy and Privacy, Security Information Management Practices. Michael is one of the few practicing lawyers who has satisfied the rigorous requirements necessary to obtain the Certified Information System Auditor (CISA), Certified Information Privacy Professional (CIPP), Certified Information Systems Security Professional (CISSP), Information Systems Security Management Professional (ISSMP), Certified Risk and Information System Controls (CRISC), and Certified Outsourcing Professional (COP) certifications. Mr. Overly’s numerous articles and books have been published in the United States, Europe, Korea, and Japan. He has been interviewed by a wide variety of print and broadcast media (e.g., the New York Times, Los Angeles Times, Business 2.0, Newsweek, ABCNEWS.com, CNN, and MSNBC) as a nationally recognized expert on technology and security related matters. In addition to conducting seminars in the United States, Norway, Japan, and Malaysia, Mr. Overly has testified before the U.S. Congress regarding online issues.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Live Online
On Demand
Date + Time
- event
Tuesday, July 16, 2024
- schedule
1:00 p.m. ET./10:00 a.m. PT
- Limitation of liability
- Carve-outs
- Confidential information
- Breach of data security obligations
- Intellectual property
- Indemnification
- Restrictive covenants
- Payment obligations
- Bad conduct
- Willful misconduct
- Gross negligence
- Violation of law
- Variations in M&A agreements
- Diminution in value
- Damages based on a multiple
- Fraud
- Materiality scrapes
- Carve-outs
- Best practices
- Commercial agreements
- M&A agreements
- Damages awarded in third-party claims
- "Special damage" caps
The panel will discuss these and other key issues:
- How can parties quantify and exercise control over potential liabilities that have been excluded from a limitation of liability provision?
- What are "bad conduct" carve-outs in indemnification and limitation of liability?
- What are the risks of carve-out language being over-expansive and defeating liability protection?
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