Solution
LS Law worked closely with the company’s CEO and CFO to thoroughly understand the project’s expectations, services to be delivered, costs, timelines, and ownership of intellectual property. LS Law then reviewed and updated the software and development agreement, ensuring all critical commercial and legal points were addressed.
Key Actions:
- Comprehensive Review: Assessed the terms of the existing agreement to identify gaps and risks.
- Detailed Updates: Revised the agreement to include necessary provisions for risk mitigation, intellectual property ownership, KPIs, and payment terms.
- Collaborative Discussions: Engaged in discussions with the client to ensure all commercial and legal points were covered.
Results
LS Law’s intervention led to productive talks between the parties, resulting in a renegotiation of the commercial terms to reflect the changed environmental context of their relationship. This not only prevented the termination but also preserved and strengthened the business relationship.
Quantified Benefits:
- Dispute Resolution: Successfully halted the unilateral termination and addressed the allegations made.
- Relationship Preservation: Maintained a valuable business relationship through renegotiated terms.
- Legal Clarity: Ensured our client understood their rights and stood firm in negotiations.
The Future
The client plans to continue leveraging LS Law’s expertise for future contractual and legal challenges. The partnership will focus on proactive risk management and ensuring robust contractual agreements to support business growth.
How did we make the client feel?
We provided confidence to the customer in standing their ground, and to put them in a stronger negotiating position, to bring about a fair outcome to both parties which saved the business relationship.
Testimonial
“LS Law helped us to obtain a clear view on where we stood and to move forward from a position of strength.”