In the ACC Docket, Will Cannon and Tiffany Burba co-authored an article with Labcorp's Brandon George on how companies can best position themselves through cloud agreements and software contracts.
"Cost, convenience, and acceptance are driving the business world’s move to the cloud, and the trend has accelerated during the COVID-19 pandemic," they wrote. "While there can be major advantages to partnering with cloud vendors on software and data storage, it can also expose companies to cybersecurity risks and debilitating outages. Ultimately, you are giving up control in a cloud relationship, and the only thing that protects you is your contract."
"For that reason, the negotiation of software as a service (SaaS) and other types of cloud agreements has become extremely important to how software licensees manage cybersecurity risk in their businesses," they continued.
"By following best practices in negotiating those contracts and collaborating with relevant internal stakeholders, in-house attorneys can help companies maximize the cloud’s upside and minimize its downside from a customer/licensee perspective," they wrote. "Outside counsel can provide additional insight on what is generally acceptable in the market and how other companies have dealt with risk."
You can read the full article here: Best Practices for Negotiating Software Contracts.
The ACC Docket is the premier publication for the Association of Corporate Counsel, which represents the interests of 45,000 in-house leaders and professionals around the globe.