The Top Five Ways To Ruin Your Contracts [Forbes]
JP Morgan Chase & Co. (JPM)
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Source: Forbes
The Top Five Ways To Ruin Your Contracts If you can’t sacrifice a pawn, you may end up losing your king. Businesses need to be strategic with their contracts and decide what is critical to keep and where they can or must let go. Getty Good contracts are handshakes with teeth. Done correctly, they capture the parties’ deal. Better still, your company’s contracts can be tremendous assets that lock down your rights to money, goods and services. But, you can ruin all of that. Here are the top five mistakes that turn contracts into liabilities: 5. Me, Me, Me — Alienate Everyone With A One-Sided Agreement One-sided contracts often backfire. Sure, selfishness has a certain infantile "I-am-the-center-of-the-universe” appeal to it. If you’re short-sighted, you’ll use a contract that gives the other side no remedies even if your product or service fails. But, in the long run, karma and the courts have a way of evening things out. Consider the following real-life provisions from a software agree
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