More and more, it seems, businesses have to tender for work. Careful – often the tenders require you to sign up to a set of terms which are one-size-fits-all. We come across this time after time, and especially with digital businesses, you could be stuck with terms by which you’ve agreed to assign all your IP rights. You don’t want to do that! You’re then going to have a massive uphill struggle to change what you’ve agreed to. In one case we dealt with recently, we had to find a way to unpick a multimillion dollar commitment where our client could have given all its IP away – but where at the same time, the client and the customer really wanted and had committed in business terms to do business with each other. It’s no fun and can lead to massive ructions.
Usually you will have an opportunity to state as part of the tender process if there are elements of the contract you can’t accept. It means reading the terms. But read them, or get them read. It could be a huge saving!