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Software development agreements: how to prevent conflict and defend your rights in court?
VEGAS LEX has organized a workshop on key aspects of software development contracts for companies.
On April 11, 2017, the VEGAS LEX law firm held a workshop, Software development contracts: prevention and resolution of conflicts with contractors, for major Russian and foreign companies.
Partner Alexandra Vasyukhnova , Head of Technology and Investment group, associate Dmitry Borodin at the same group, and Head of Litigation practice Victor Petrov spoke about the legal regulation of software development contracts, discussed the main issues companies face at the stage of concluding and executing the agreement and ways to defend their violated rights through judicial procedure, and gave recommendations to purchasers of IT solutions.
For more information on VEGAS LEX’s services to the Telecom. Media. Technology sector, please click here
For more information on VEGAS LEX’s projects in the Intellectual Property sphere, click here
For more information on VEGAS LEX’s dispute resolution services, please go here
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At the present time, in various legal relationships there exists the acute problem of observing a balance of interests concerning the parties involved in these legal relationships, their legal rights, and their mutual economic needs. Judicial practice, when considering disputes between these kinds of parties, takes into consideration not only the formal requirements of legislation, but also the real economic and legal goals and interests of the participants.- Vegas Lex Law Firm
At the present time, in various legal relationships there exists the acute problem of observing a balance of interests concerning the parties involved in these legal relationships, their legal rights, and their mutual economic needs. Judicial practice, when considering disputes between these kinds of parties, takes into consideration not only the formal requirements of legislation, but also the real economic and legal goals and interests of the participants.
It is well known that before making significant managerial decisions, the general director must obtain approval from the shareholders or the board of directors. Apart from that, if a director is personally interested in entering into a transaction, approval is also required to proceed with the transaction. In the absence of such an approval, the transaction can be challenged and, in certain circumstances, invalidated. In order to minimize such risks and to eliminate legal uncertainty for the parties to the transaction, the rules governing major transactions and interested transactions must be sufficiently clear. Previously, however, the application of these rules was associated with a large number of controversial legal issues, which were finally solved as a result of the legislative amendments, which will enter into force on January 1, 2017. According to the new amendments, the distinction between major and non-major transactions has been delineated more clearly, parties have been allowed more flexibility in relation to approving transactions, the burdensome obligation to obtain prior approval of interested transactions has been abrogated, and finally the procedure for challenging transactions in question has been made much more complex. Overall, the changes should have a positive influence on business, as they contribute to the establishment of firm legal certainty in this area of the law.
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