Important Elements in Intellectual Property-Related Contracts

Contracts are used to formalize virtually all business transactions. Of course, they are appropriate instruments in situations beyond traditional buy/sell arrangements and employment agreements. Any circumstance that involves a mutual exchange of promises likely necessitates a formal, written contract. This is particularly true when there is valuable intellectual property (IP) at stake. Companies with important IP must utilize contracts to ensure that their internal staff and any external vendors or consultants with access to their IP information will act appropriately, irrespective of the timing and duration of that access. And, for employees engaged in or responsible for developing IP, it is imperative for companies to make it clear which party has the proprietary rights.

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Contract Management Software For the Entertainment Industry: Why You Need It Now

The entertainment industry is contract-heavy and required to stay current on artist agreements, contracts outlining royalty rights, freelance contracts, outside media relations, and other time-sensitive and detailed contracts. Compromising contract confidentiality and missing crucial deadlines are common problems that plague the entertainment business, and have severe consequences that can be eliminated with efficient contract management. Here are three ways that contract management software can benefit the entertainement industry. 

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Managing Contract Risk - Importance of A Contract Management Process

Contracts are at the heart of virtually all business transactions. However, because contractual relationships vary drastically within and between companies and sectors, not all contracts can be treated in the same manner. Managing contract risk is an important part of the contract management process. Doing so can ultimately help a company’s bottom line. And failing to do so can result in dire consequences, both financial and otherwise.

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