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Best Practices for Reviewing Software Purchases

Learn about the core issues and contract provisions most commonly found in software agreements.

Software, whether locally installed or provided via the cloud, is a critical factor to the success of every business, large or small. Learn the right questions to ask to better assess the risks of the engagement. This topic will review nomenclature unique to these types of deals and will focus on the core issues and contract provisions most commonly found in these agreements. This information will review each provision, discuss common pitfalls, and provide real-world solutions to solving common problems. Use the materials as a checklist to guide your own contract reviews in the future.

Runtime: 90 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Lay of the Land - Why Software Purchase Agreements Present Unique Contracting Issues

  • Collecting Basic Deal Information
  • Battle of the Forms - Vendor Contract vs. Customer Contract
  • Key Contracting Provisions

Collecting Basic Deal Information

  • What You Need to Know to Assess the Deal
  • Expected Useful Life
  • Will Development or Customization Work Be Performed?
  • Will Sensitive or Regulated Data Be at Risk?
  • How Critical Is the System?
  • Is the Customer a Regulated Entity (e.g., Financial Institution or Health Care Provider)?
  • What Is the Expected First Year Spend?

Key Contracting Provisions

  • Specifications
  • License Grant/Scope
  • License Fees
  • Acceptance Testing
  • Intellectual Property Ownership, Feedback, Customer Data
  • Confidentiality
  • Warranties
  • Indemnities
  • Limitation of Liability
  • Support Obligations
  • Term and Renewal Rights
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on April 15, 2020.

Call 1-866-352-9540 for further credit information.

  • ISM 1.5
     
  • Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Michael R. Overly

Michael R. Overly

Foley & Lardner LLP

  • Partner with Foley & Lardner LLP
  • Focuses on drafting and negotiating technology-related agreements, software licenses, hardware acquisition, development, disaster recovery, outsourcing agreements, information security agreements, e-commerce agreements and technology use policies
  • One of the few practicing lawyers who has satisfied the rigorous requirements necessary to obtain the Certified Information System Auditor (CISA), Certified Information Privacy Professional (CIPP), Certified Information Systems Security Professional (CISSP), Information Systems Security Management Professional (ISSMP), and Certified Risk and Information System Controls (CRISC) certifications
  • The Legal 500 recognized him for his information technology work in the U.S., 2010-2014
  • Selected for inclusion in the Southern California Super Lawyers® list and also was honored by Los Angeles magazine for this recognition
  • Recognized by Chambers USA for his IT and outsourcing work in 2013 and 2014
  • Numerous articles and books have been published in the United States, Europe, Korea, and Japan
  • Interviewed by a wide variety of print and broadcast media (e.g., The New York Times, Los Angeles Times, Business 2.0, Newsweek, ABCNEWS.com, CNN and MSNBC) as a nationally recognized expert on technology and security related matters
  • In addition to conducting seminars in the United States, Norway, Japan, and Malaysia, he has testified before the U.S. Congress regarding online issues
  • His practice group was named in 2014 one of the World’s Best Outsourcing Advisors by the International Association of Outsource Professionals
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 406385
Published 2020
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