Critical Considerations for IT Contracts: The In-House Professional’s Guide

Partner Ira Kalina and Associate Reeya Thakrar led a presentation at Faegre Drinker’s Chicago office for the Association of Corporate Counsel focused on the essential contractual, operational and business considerations that in-house professionals must navigate related to software as a service, digital applications, Big Data and AI.

They explored critical issues such as scope and payment terms, the complexities of implementation and termination transitions, intellectual property ownership (especially in the context of AI), and the importance of defining and maintaining service levels. 

The session also focused on equipping in-house professionals with the knowledge and tools needed to excel in the ever-evolving IT contracting landscape by examining the current market trends for limiting liability and AI-specific protections and provided strategic insights on managing these processes effectively.