The following is not meant to be legal advice.
When negotiating contracts, venue may come into play. When agreeing to venue, the parties should make it the exclusive jurisdiction. Otherwise, there may be no point in agreeing to venue ahead of time.
When negotiating contracts, the attorney should also look at language relating to revenue recognition. There are 3 sources that release revenues. Revenues may come from backlog, legacy (renewals), and new agreements. When there is an economic slowdown, the products that are cost savings to an organization such as e-learning (versus in person learning) may continue to sell. Longer contracts are driven by upgrades of agreements when there are additional functions. An attorney may structure such deals by structuring annual commitments differently with more up front value when the customer signs up for longer terms.
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