From the course: How to Read a Business Contract
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Consider why you received this contract
From the course: How to Read a Business Contract
Consider why you received this contract
- When you pick up a contract, be clear on why you are looking at it and have that reason front and center as your review. It may seem a bit obvious, but without that focus you could get sidetracked. Have you ever gone to a shop without a shopping list? Chances are you have left having purchased more things than you had planned to, or even worse, you forget the specific items you intended to buy. This then means you either must do without or take multiple trips to the shop without focus. You can go down rabbit holes or become confused. Ask yourself, have I received this contract because I'm interested in certain products or services, or both? Is a third party interested in my products or services, or both? Is there a mix of give and take such as a joint venture or a collaboration? Also, don't forget to get clear on why you are looking at a contract, even if the contract is yours and has come back to you with amendments from a third party. When you are clear on why you're looking at…
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