Contrary to what might first appear to be the case, long, dense contracts filled with legalese are not necessarily more thorough and do not necessarily do a better job at offering legal protection than shorter, plainer contracts. In fact, long and unwieldy contracts are often harder to navigate, harder to understand, harder to control, and possibly, harder to defend in the courtroom.
Contract standardization has a history that is almost as long as contracts themselves. Due to the complexity of contracts as well as to the legal aspects of contracts, businesses and individuals have long used standardization practices in conjunction with all phases of the contract practice, from what contracts say to how they are presented and approved.
The third season of HBO's Silicon Valley is now complete and Pied Piper has just released its product to market. Several hurdles have been overcome in the journey to this level of fruition including one of the key executives of the company being trapped in a self-driving car and large amounts of code being accidentally deleted. Legal complications have also played a large role in the plot lines, including many issues related to contractual agreements. These include:
The referendum held on 23 June 2016 to decide whether or not the United Kingdom should stay in the European Union caused quite a ruckus when the results came back. The result, 52% for leave against 48% for remain, has caused a changeover in power as David Cameron announced his resignation with Theresa May rising up to take his place. Brexit is also set to impact British and non-British businesses in several ways due to its effects. Although the majority believe Brexit will have a negative impact on business (for a detailed analysis you can refer to Global Counsel’s report, Brexit: the impact on the UK and the EU here), there are some companies which may benefit from the decision in relation to their corporate contracts. Let’s have a look at four different companies may be experience positive results due to Brexit in relation to commercial contracts.