In this straightforward look at how contracts are used in everyday business life, Tiffany Kemp shows us how to use contracts to help us build stronger, more profitable relationships with our customers.If you've ever wondered why lawyers object to you offering clients your 'best endeavours', or whether 'time is of the essence' means anything more than 'get a move on', you'll find this book an invaluable and very readable companion to your commercial negotiations. And if you've always considered legal and commercial to be the 'Sales Prevention Squad', you'll learn how they can become your greatest allies in closing and delivering profitable deals.
|Publisher:||Panoma Press Limited|
|Product dimensions:||6.00(w) x 9.00(h) x 0.59(d)|
About the Author
Tiffany Kemp lives in Berkshire with her husband, two children and dog. She discovered contract law in 1998, when she realised that the contract negotiations she was conducting in her sales role might be a bit more successful if she had a clue what she was doing. After trying without success to find a ‘contract law for non-lawyers’ class at her local college, she bit the bullet and completed a Masters Degree in Business Law at De Montfort University. In 2003 she created Devant, a company dedicated to helping small and medium sized companies punch above their weight in their contractual relationships. Her engineering background (she started her career as an RF engineer, developing military radio for Racal) stood her in good stead, enabling her to overcome the ‘lawyer phobia’ of her early clients by talking about what they did, and how they did it. Devant has grown since the early days but remains focused on seeking out new ways to help companies structure, contract for and deliver better deals. Today, Tiffany is a speaker, trainer and mentor, encouraging business leaders to engage with the contracting process as a positive contributor to their selling and delivery success.
Table of ContentsPraise for ‘Deal Makers’
1. The Sales Prevention Squad is on your side!
Those who sell and those who don’t
The Squad are there to keep you out of trouble
You may be perceived as a ‘lion hunter’
Life’s too short for internal battles
Contracts can help you sell
2. The contract provides your ‘User Guide’ for the relationship
Contracts are just tools – how you use them is up to you!
Relationships need rules
Creating your User Guide: the three main functional areas
Your contract should be easy to understand!
How to make a legally binding contract
3. The small print matters – so keep your lawyers on side
‘Small print’ and ‘legalese’ are not helpful but they’re still common
This book will help you understand key legal concepts and contract terms but it won’t turn you into a lawyer!
If your lawyers trust you, life will be easier and sales will close faster
Find the right way to engage with legal counsel – one that works for you and your organisation
4. What you’re selling should match what the client’s buying
The no.1 reason for contract disputes
Writing good specifications can be tough
Proposals, SoWs and Order Forms
Find out what your client thinks they’re buying
Value = meeting the right wants and needs for an acceptable price
Use ‘acceptance’ to check you’ve done what was agreed
5. Help your clients make the project a success
Understand who you’re selling to
Lack of clarity about client contributions causes problems
Your client will appreciate this conversation
6. If you want your commission, help your company get paid!
Linking your personal success to the company’s
Define clear invoicing milestones
Define clear payment terms
Make sure your company gets paid!
Give yourself tools to address late payments
7. The way you deal with problems shows your true mettle
Warranties – addressing delivery problems
Addressing problems with scope
Make customer support a key selling point
If all else fails, escalate – practical dispute resolution
8. Why limits and exclusions of liability are important
Litigation is a losing game
A limit of liability ‘caps’ your exposure if you breach the contract
Liquidated damages aren’t always as bad as they sound
Exclusions of liability prevent the client claiming certain sorts of losses
You must leave the other party with some remedy
Indemnities don’t help anybody
Check your insurance before making concessions
9. Confidentiality and Data Protection protect business and personal data respectively
You have an automatic right to confidentiality but the contract can make it stronger and easier to enforce
Confidentiality should be mutual
The EU Data Protection Directive has changed the global data protection landscape
International data transfers are complex (and getting more so…)
Freedom of Information or breach of confidence?
10. Intellectual property rights are rights in our intellectual creations
Different classes of IPRs are ‘protectable’ by law
If you own an IPR, you control the right of others to use it
Enhancing your product for a client creates a complex IP landscape
Software licensing models are evolving all the time
11. A whistle-stop guide to the ‘legalese’ at the back!
Contracts (Rights of Third Parties) Act 1999
Endeavours – Best and Reasonable
Term and termination
Time is of the Essence
12. Manage the contracting process to improve forecasting
Now you understand the nuts and bolts, you can take control
Be clear about your objectives
Understand the client’s objectives
Use the negotiator’s toolkit to become a more effective negotiator
Getting your deal to signature is cause for celebration!
Onwards and upwards
About the author