Springboard and safety net
A good commercial contract has the characteristic of being both a springboard and a safety net. It is both a sword and a shield. It provides an opportunity to expand and grow your business yet must have within it protections so as to ensure that if things go wrong, your position is guarded and preserved to the fullest extent possible.
Optimism is a good thing in a negotiation
There is a natural tendency in negotiating and then entering into a contract to believe that because of your personal experience, skills and attributes, you will be able to negotiate a contract that is watertight.
Rarely does the entrepreneurial businessperson believe there will be any problems under the contract. They think if there ...