This is the first post in a 3-part series.
When business negotiations are in full swing, clients are typically focused on bottom line business objectives, content to leave the lawyers to hash out standard legal provisions. However, certain legal provisions can also impact business risk, enough so that clients should understand how they work and what can be done to avoid unnecessary risk. One such provision that often receives little attention from clients is contract damages. However, the reality is that negotiating the scope of allowable damages requires a strategic examination of the risks inherent in the transaction and their possible impact on your position in the event of a breach of contract.