An indemnification clause in a contract represents an agreement by one party to compensate the other party for certain costs and expenses.
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As with most contracts, when it comes to creating an employee non-disclosure agreement, there’s the right way and then there’s the risky way.
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The effect of a prevailing party clause is that, if there’s a lawsuit, the losing party pays the winning party’s attorney fees.
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A severability clause is meant to make sure that the rest of the contract is enforced even if one or more provisions are found to be unenforceable.
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A merger clause prevents a party to the contract from trying to avoid its terms by claiming that the parties reached some other agreement in a different document or conversation.
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If you’ve ever read a commercial contract, you’ve probably come across a force majeure clause. At the time, you probably wondered, what the heck is a force majeure clause?
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