Tech & Sourcing @ Morgan Lewis

An ever-increasing number of companies are choosing to use chatbots on their website, in their sales organizations, and to help with customer service. In fact, according to Vantage Market Research, the chatbot market will grow over 23% by 2030. A chatbot can provide a useful tool for consumers who are looking for quick and easy access to information as well as companies looking to provide a high level of attention and service, while allowing its employees to focus on other demands. However, companies should remain aware of and monitor the information the chatbot is sharing.

There are many basic contracting principles that can help streamline and create a readable and clear contract, including the proper use of defined terms. Consistent with the phrase, a defined term is a word or term, often capitalized or otherwise distinguished from other text throughout the agreement, that is to be read to include the particular meaning given to it in the agreement.

An indemnification provision serves as a contractual remedy to redress a party’s (or third party’s) financial loss suffered as a result of a claim, breach, or some other event or condition set forth in the provision. Indemnification serves as a risk allocation mechanism derived originally from insurance law. Each term—“indemnify,” “defend,” and “hold harmless”—has a distinct and important role in an indemnity clause, so it is important to understand the nuances and differences among the three terms.

As we reach the end of 2023, we have once again compiled all of the links to our Contract Corner blog posts, a regular feature of Tech & Sourcing @ Morgan Lewis. In these posts, members of our global technology, outsourcing, and commercial transactions practice highlight particular contract provisions, review the issues, and propose negotiating and drafting tips.

Technology transactions, outsourcing, and commercial contracts (TOC) group member Don Shelkey, together with Morgan Lewis lawyers Stephanie Sweitzer, Levi McAllister, Jason Mills, and Samantha Ojo, will present a continuing legal education (CLE) webinar on planning for the 2026 Men’s World Cup on October 11, 2023 from 1:00–2:00 pm ET, as part of the Morgan Lewis World Cup Strategic Initiative.

As part of our Spotlight series, Dennis C. Gucciardo, who counsels medical device manufacturers throughout the product lifecycle in the US Food and Drug Administration (FDA) regulatory context, shares insight into some important considerations when creating, reviewing, and implementing medical device product warranties.

Don Shelkey and Ben Klaber will present a continuing legal education (CLE) webinar on digital health transactions on September 14 at 1:00 pm ET.

In this blog post, we provide a summary of the different types of agency relationships in the United Kingdom and United States.

It is often appealing for businesses that are under pressure to get contracts signed to turn to template documents. While these templates can be very convenient, it is imperative, especially with regard to liability provisions, to carefully consider the actual intentions of the parties and what, if any, amendments will be needed to such template provisions.

Morgan Lewis is hosting our annual Tech & Sourcing Summit in New York on Wednesday, October 25. The summit will include a full day of sessions starting in the morning with breakfast, followed by a networking lunch.