Ten Things: Minimizing Risk in Commercial Contracts

Excellent article!! covering must have in minimizing commercial contract’s risk.

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ACCEPT SOCIAL CHANGE WITH PRUDENCE

It is an incident that I witnessed in a pub and asked myself how should pub culture be in India?

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This is article is to share an incident that I witnessed in a pub.

I was sitting in a pub with my family and friends in Bengaluru. While we were engrossed in our talks and listening the live-band, I suddenly realized that table next to ours got occupied by a bunch of teenagers.

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AN EXPERIENCED PROFESSIONAL!

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Corporate life is never easy. It requires lots of dedication, hardwork, multitasking, learnings and perseverance to be successful. Some of these qualities are inherent, however, some are learnt hard way. Many times it is gained by exploring ideas and at times, it is, in keeping mum. The right decision making is what comes through Experience and makes a professional, an Experienced Professional!

My years of experience in corporate world has taught me a few lessons of experience that I would like to share with all young professionals who feels demotivated in a toxic work environment or when surrounded by negative people.

Starting my career as a young energetic professional, I used to think why many times, seniors in corporate world are not as enthusiastic as youngsters? Why are they not eager to present themselves despite being more experienced and knowledgeable? Why they take easy everything that comes their way and do not take initiatives that we, youngsters think as a ‘must taken step’? Why does the thought process/ point of view differs so much while viewing the same subject? Though somewhere my questioning nature,  has opened up my eyes to see a situation from the angle beyond mine and that has taught me a great lesson. A lesson of being silent at something and observe everything.  This is one of my learning from the Experienced Professionals that have answered few of my questions during my initial corporate days. Though for an energetic youngster, it is difficult to understand, but, through experience one realizes how to save energy for the right job.

Corporate world is full of different types of people. While some lead by examples and  keep setting roles models for the young and energetic professionals to follow their path, at the same time, there are many out there, who take any route to survive the competition. Their action may be unethical, or their behavior could be bossy or their intentions could be harmful, etc., whatever, it may be, and how so ever policies of the companies could be to tackle such people, there are times when these toxic people are able to successfully create a Toxic Workplace Environment, that leads to a demotivates work environment for a hard working professional.

What should a young professional learn from an Experienced Professional?

The best learning lies in learning behavioral competencies.

As a young professional, you might have witnessed that in a toxic work place, it is not that an honest person is a winner, it is the person who can create such perception makes its way towards success. Therefore, do understand that a successful person is the one, who is a winner of every situation. Give your best at work and at the same time create your brand.

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TELECOM USERS BEWARE OF YOUR RIGHTS!!

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Are you a mobile phone user who is tired of receiving unsolicited calls or sms for personal loan, sale etc.?

Are you also tired of blocking the number on your cell phones or registering it as spam every time you receive a call, then, this article is just for you.

This article provides you the ways in which you may file a complaint against the number from which you receive such unsolicited call/sms, if you are registered under NCPR, in India.

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HOW TO JUDGE A COMPANY’S CULTURE AT AN ARM’S LENGTH

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Competition is high and so are the challenges for all corporate entities to establish their brand value. Every company spends a lot on their PR to create, maintain and enhance their goodwill to stay ahead of their competitors and to attract best professionals from the lot.

Resources are the key to success:

Every organisation’s success depends on its power to manage and retain its best resources. Zeal of the resources at work decide the fate of the organisation and culture of the organisation decides how long such resources will continue to work with motivation, who put their heart and soul in it. As organisations are choosy in selecting best resources for itself, so are the free willed resources who are also planning their long term goals with the company that provides a work culture matching their requirement. Hence, a thorough research in the company’s culture is the need for the professionals to continue working productively.

This article is to bring you some pointers that may be considered while speculating company’s culture before joining it:

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WHAT SALES REPRESENTATIVES/NON-LAWYERS SHOULD KNOW ABOUT DRAFTING?

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Drafting an agreement is no longer confined only to lawyers.

With the advancement of IT products and services, agreement drafting is broadly split into two parts: (a) General Terms and conditions such as Master Agreement and (b) Technical terms and conditions, such as description of product/services and clauses relating to performance, duration, fee etc., often captured in documents like Statement of Work/ Order Forms/ Work Orders/ Change Request, Amendments etc., (together, “Technical Documents”).

While companies have qualified in-house counsels to draft, review and negotiate Master Agreements carrying general terms and conditions (governing relationship between service provider and customer), Technical Documents are often drafted by pre-sales, delivery executives, or other technical experts, and negotiated by sales representatives, having limited training on drafting.

Needless to emphasize the fact that together, Master Agreement and Technical Documents, duly signed between customer and service provider, forms an agreement between the parties and referred multiple times by various internal/external stakeholders, courts, to understand the agreed terms,  to perform duties, execute rights and resolve disputes. Therefore, principles of drafting a legally binding agreement (“Contract”) is equally applicable for drafting a Technical Document. Clarity, unambiguity and precision are few of the key elements that should be remembered while drafting it, on which, non-lawyers are often not formally trained.

This article provides a few pointers to all those non-lawyers, who are associated with drafting a Technical Document:

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