A recent article from the International Association for Contract and Commercial Management has concluded that the current focus for nearly all contracts fails to set the appropriate foundations for the relationship between the parties.
Instead, many contracts concentrate on the negative - on indemnities, liquidated damages, IP rights and liabilities. I’m sure many will recognise the list.
With the ever increasing trend towards outsourcing and strategic partnerships, there is a need to reflect in contracts the fundamentals of the relationship, setting the framework to enable opportunities, growth and mutual benefit.