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  • contracts

  • How do we manage the risk of working with a sole proprietor?

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    We have a few vendors and consultants how are sole proprietors or part of small firms, where one person is critical to the service they provide. In one case the vendor has a special license that we depend on. The consultants all have special skills. They do good work and we have no desire to replace them. We are concerned, however, that something might happen to the vendor or consultant mid-project. What steps can we take to protect ourselves mid project? What can we do before engaging with a new consultant or vendor with a key person?

    contracts risk-management sole-proprietor

    asked by Kylie19

  • How to structure an earn out for the acquisition of a private company?

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    We are would like to buy our first small business. The seller said that he is "open to an earn out." The company is a subchapter C corporation, but this issue came up in another deal where the business was organized as a California limited liability company (LLC). I would appreciate a business and finance explanation of an earn, not a legal description.

    accounting contracts acquisition

    asked by Idona

  • What alternatives to non-competes are used in California?

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    We are opening a facility in California and understand that non-competes are effectively illegal there.

    contracts non-compete

    asked by guy79

  • What is the risk in executing a unilateral NDA?

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    We are a small software company that has recently starting getting traction in the enterprise market. Our price point is modest relative to other applications. A prospective customer just asked us for the first time to sign a unilateral NDA. We do not have in house counsel.

    nda contracts sales

    asked by Kylie19

  • What is a Business Associates Agreement (BAA) and how do I track it?

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    I recently joined a healthcare company to set up and run its contract management function. While I have lots of contract management experience. The nuances of health care contract management are new to me. We have a lot of Business Associates Agreements (BAAs). Our team asks me for a new every time they start talking to a potential vendor or provider. I would like a better understanding of a BAA, but I also need to know when a Business Associates Agreement is required and once executed, how do I track it.

    contracts contract-management healthcare hipaa privacy

    asked by halee71

  • How to categorize contract obligations?

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    We want to make our contracts more useful to managers throughout the company. Full text search of contract files does not actually help them get what they need because it often shows too many or too few results. Even if they find a useful provision, the manager still has to interpret the language, which is the job of our legal department. Is there a way to track provisions in a more structured and consistent manner that would show on a report? We would like to show the obligations or requirements across our contract portfolio.

    contracts contract-management

    asked by Maddy

  • Why is the royalty payment under our contract not considered a royalty for tax purposes?

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    We provide services to customers using a product sold by a company we are partnering with. We negotiated a contract where we provide those services at a reduce rate and the company pays us a royalty on sales of the product as compensation for the reduced service rate. Our auditors have told us that the income we receive from these royalty payments is taxable as ordinary income rather than at the lower tax rate for royalties, but we are struggling to understand why.

    accounting contracts tax income-tax royalty

    asked by Montana23

  • What is the difference between an evergreen contract and an auto renewal contract?

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    We typically use auto-renewing contracts for a long term supply agreements. However, we are looking at using evergreen contracts for a few contracts. I'd like to understand the differences between evergreen contracts and auto renewal contracts.

    contracts

    asked by beck59

  • How should we track the equipment covered by our lease agreements?

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    With so many lease agreements for different pieces of equipment, it does not make sense to track our "lease agreements," because that is too general. We would like to distinguish the contracts or leases in some way other than by type of contract. They are still leases after all. Is there a way to track contracts by the type of equipment or subject of the contract?

    contracts contract-management equipment-lease

    asked by kc_3

  • When is an Indication of Interest used in acquisition negotiation instead of a Letter of Intent?

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    We are developing a list of potential acquisition targets in our industry. We have existing alliance or joint venture agreements with some of these companies. We can get to the fuzzy front end to open the discussion, but then our conversations stall because they all want a Letter of Intent (LOI). Since we are simply shopping for one acquisition target among many we don't have enough answers to give them a LOI. After some research it seems like an Indication of Interest (IOI) is a better tool for our needs. We would like to understand how an Indication of Interest fits in the negotiation process. It would also be useful to understand what an IOI should cover? What are the main differences with an LOI?

    contracts acquisition letter-of-intent negotiation

    asked by vera7

  • How to integrate compliance reviews related to contracts?

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    We have contracts with regulated companies (health care). The contracts require us as a vendor to monitor and comply with laws that cover our work with our clients. Our client health care companies also have the right to review our performance and processes. I'm not sure how to perform or track compliance reviews related to a contract.

    contracts contract-management healthcare compliance

    asked by halee71

  • How to tell whether a contract is auto-renewing?

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    I am new to contract management. Most of our contracts have fixed terms. But I've just learned that contract "auto-renewed" without anyone on our team knowing about it. How can I figure out whether a contract is auto-renewing?

    contracts contract-management

    asked by mmodero

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