Description
Understand the fundamental purpose of contractual indemnification and consider how it might function in any given contract.Many nonattorney businesspeople enter into contracts that include indemnification provisions without understanding what those provisions can do. Either party, the one giving indemnification or receiving indemnification, may miss a valuable opportunity to allocate risk clearly so that future litigation or other problems can be minimized or avoided.This course will help businesspeople understand the fundamental purpose of contractual indemnification and consider how it might function in any given contract. This course will also explain the meanings of several phrases that often appear in indemnification provisions and some potentially important issues that are often omitted from a contract, so a businessperson can contemplate some pros and cons as applied to the business deal on the table. While the speaker will not provide legal advice, and this presentation is not a substitute for the advice of a lawyer, this material will help businesspeople who may review, draft, negotiate, execute, or seek to enforce contracts with indemnification provisions.
Date: 2022-07-25 Start Time: End Time:
Learning Objectives
What Is Indemnification?
• Transfer of Risk Between Parties
• Examples of Contracts That Often Include Indemnification Provisions
• Some Business Relationships Can Create a Right to Indemnification Even Without a Provision in a Contract
Common Contractual Triggers for Indemnification
• Negligence by the Indemnitor
• Anything Related to the Subject Matter of the Contract
• Indemnification for Indemnitees Own Negligence
Scope of Indemnification
• Does It Include Defense of a Claim by a Third Party?
• Does It Include a Claim by One Party Against the Other?
• Does It Provide Indemnity in Favor of Non-Parties to the Contract?
• Does It Include Attorneys Fees for Enforcing the Indemnification?
Interplay With Workers Compensation
• Can Arise When Indemnitors Employee Is Injured and Sues Indemnitee
• Employers Liability Is Usually Limited to Workers Compensation
• Can Employer Be Required to Indemnify Indemnitee, in Addition to Workers Compensation Paid to Injured Employee?
Interplay With Other Contract Provisions
• Limitation of Liability
• Insurance
CLE (Please check the Detailed Credit Information page for states that have already been approved) ,HR Certification Institute ,SHRM ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Kenneth M. Gorenberg-Barnes & Thornburg LLP
