What's in an indemnity anyway?
By Kit Burden
There is a noticeable trend for the list of ‘indemnified’ losses in IT and outsourcing contracts to be getting longer and longer. Our commercial/ business colleagues and clients see lawyers get very hot under the collar when arguing about them, and yet it can be difficult to articulate quite why this is an issue, especially when the lawyers themselves may not have a common understanding of what an indemnity actually means in a contractual sense.
So is this all just a storm in a tea cup? The answer is of course — ‘maybe’.
To start, one needs to assess what the more ‘traditional’ view may be as to the benefit that an indemnity clause may provide, as opposed to a pure damages claim…
If you are registered and logged in to the site, click on the link below to read the rest of the DLA Piper briefing. If not, please register or sign in with your details below.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
All-In@EiG 2014 — gaming in the cloud; patents on gaming and gambling technology; legal issues surrounding Bitcoin; and more
To coincide with the 13th European iGaming Congress and Expo, DLA Piper’s gaming team has launched All-In@EiG 2014.
Upcoming nationwide transfer pricing investigation against outbound service-fee and royalty payments
On 29 July 2014, the China State Administration of Taxation released an internal notice to the China tax authorities at the provincial levels.
Analysis from The Lawyer
Regulators are ramping up the pressure in the aftermath of recession, leaving firms to compete for compliance and restructuring work
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.