YCWPD 019 - Contract Law and Negotiations for Non-Lawyers
Description
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Contracts are an important part of our daily lives even though we often don’t realize that. Every day many professionals make contracting decisions on behalf of their organizations often without a full appreciation or understanding of the nature and scope of obligations. The resulting agreements are often either ill-conceived or poorly drafted, thereby leading to confusion and difficulty in fulfilling the mutual obligations of the parties.
This practical hands-on workshop is designed to demystify contract law and enhance the skills of individuals who work with or concern themselves with contracts on a regular basis.
The workshop will allow you to gain a full appreciation and understanding of the nature and scope of the obligations in a contract and how to mitigate and manage risks.
Through a series of hands-on activities, you will have the opportunity to draft and negotiate contracts for most common business and life situations.
You will leave the workshop better equipped with the proper tools to negotiate contracts, avoid pitfalls and prepare to deal with the “nuts and bolts” of contracts, whether it is explaining your commercial risks to your legal department or proposing alternative language to your business partner
Topics Covered
Contract Law Principles
- What is a contract?
- Elements of a valid contract
- How do you form a contract?
- Trust
- Promise
- Dead weight loss
- Gifts and Bargains
- Intent to create legal relations
Contract Negotiation
- Principled negotiation
- How to prepare for a negotiation?
Understanding and Interpreting Contract Terms
- Interpreting terms and conditions
- Identifying and mitigating risks in contracts.
- Proposing alternative language in the contract that meets the concerns of both parties
Drafting
- Drafting different types of contracts
- Modifying contract terms
- Key terms to include and to avoid in a contract
- Examination of different types of contracts (e.g., non-disclosure agreements, letters of intent, memorandum of understanding, sales agreement, services agreement, etc.)
Learning Outcomes
Upon completion of this workshop participants should be able to:
- Explain the legal principles behind a contract and when it is enforceable;
- Clarify how and when a contract is formed;
- Apply critical thinking skills when analyzing and interpreting a contract;
- Understand the most important contract clauses and terms and their impact
- Draft a basic contract;
- Propose alternative language;
- Apply principled negotiation approach to achieve “win-win” outcomes;
Who Should Attend?
This workshop is designed for non-legal professionals who frequently need to deal with contracts on behalf of their organizations. It is relevant to sales and business development professionals, account managers, product and marketing managers, procurement officers, purchasing agents, entrepreneurs, and the like. This workshop is a good investment for individuals who are planning to start their own businesses/start-ups which entails entering into multiple contractual obligations.