Out of 30 contract terms most frequently negotiated, the top five in 2008 were (1) limitations of liability, (2) indemnification, (3) “price/charge/price changes,” (4) intellectual property, and (5) confidential information/data protection. These results come from a survey conducted by the International Association for Contract & Commercial Management (IACCM) that collected responses from almost 1,000 member organizations. www.iaccm.com
This kind of empirical research helps a legal department focus its knowledge management efforts – pay particular attention to the terms that are most often negotiated, train everyone, keep alternative language in a database, invest in document management – to be sure lawyers and paralegals who draft and revise contracts know the latest positions, text, and negotiation tips.
The other 25 terms can be found in the Int’l In-House Counsel J., Vol 2, Autumn 2009 at 1379.