Click here to see video.
Ken Saurajen, partner in Gilbert + Tobin’s Corporate, Communications + Technology group, discusses contracting strategies for emerging technologies and the possible implications for Australian businesses.
Negotiations regarding the allocation of risk in IT contracts can become highly stereotyped. However when contracting for new innovations and emerging technologies, adopting a more creative, incentive-based structure as a complement to traditional approaches to the allocation of risk and reward can produce better contract outcomes and benefit all stakeholders in the technology supply chain.
Near field communications technology (NFC), a technology designed to enable secure short-range wireless data exchange between devices, is an example of a new innovation that can benefit greatly from such an approach. As NFC moves along its production path to broader commercialisation, the need to mitigate contract risks and develop incentive structures to promote desired behaviours will be increasingly important in maximising the prospects of project success.
In this White Paper, emerging technologies partner Ken Saurajen discusses contracting strategies for new innovations and NFC. Please download our White Paper here.