Capping Risks with Limitation of Liability
Overview
Every contract comes with risks, but not all risks should be your organization’s responsibility. The Capping Risks with Limitation of Liability Power Lab is designed to help IT procurement professionals and legal advisors navigate the complexities of liability caps and exclusions.
This workshop focuses on drafting, analyzing, and negotiating these critical clauses to ensure they align with your business’s risk tolerance and operational goals. You’ll learn to balance protecting your organization from excessive liability while fostering fair and enforceable agreements with vendors. Through expert guidance and hands-on exercises, you’ll gain the confidence to identify key red flags, revise unfavorable clauses, and secure optimal terms in your contracts.
Whether you’re drafting agreements for the first time or revisiting existing contracts, this session will provide actionable insights and practical tools to help you mitigate risk effectively.
Upcoming Events
Who Should Attend?
This Power Lab is ideal for professionals who negotiate, draft, or manage IT contracts, including:
- Contract Negotiators: Gain insights into balancing risk and enforceability during vendor discussions.
- Contract Managers: Learn how to review and revise liability clauses to align with organizational risk tolerance.
- Legal Professionals: Develop strategies to negotiate robust limitation of liability terms that protect business interests while ensuring compliance.
If your role involves minimizing risk, ensuring fair vendor agreements, or managing ongoing contractual obligations, this session is for you.
Workshop Outcomes
By the end of this Power Lab, participants will:
- Draft Clear and Balanced Liability Clauses: Learn to create limitation of liability terms that align with your organization’s risk tolerance and contractual goals.
- Identify and Address Red Flags: Gain the skills to spot problematic language in liability clauses and revise them for clarity and enforceability.
- Negotiate with Confidence: Develop strategies to advocate for fair and effective liability caps during vendor negotiations.
What are ICN's Power Labs?
ICN’s Power Labs are a series of interactive, 90-minute workshops designed specifically for IT procurement professionals. Each Power Lab focuses on practical, real-world challenges faced in IT contract management, vendor negotiations, and risk mitigation. With expert-led instruction and hands-on exercises, these workshops deliver actionable skills that participants can immediately apply to enhance their roles and drive organizational success.
Topics and Activities - Agenda
1. Introduction (10 minutes)
- Why limitation of liability is critical in IT contracts.
- Key objectives and examples of risks from poorly crafted clauses.
2. Instruction (20 minutes)
- Types of liability caps: monetary, percentage-based, aggregate vs. per-incident.
- Key exclusions: data breaches, gross negligence, IP infringement.
- Balancing legal enforceability and business goals.
3. Interactive Lab (50 minutes)
- Scenario #1 – Revising a Clause: Review and rewrite a flawed liability clause.
- Scenario #2 – Vendor Negotiation: Role-play negotiating liability caps to balance interests.
- Group discussion to debrief on challenges and best practices.
4. Wrap-Up and Q&A (10 minutes)
- Recap of key takeaways and practical application tips.
- Open forum to address participant-specific questions and challenges.
Start capping risks with confidence. Reserve your spot in this Power Lab today!
