Limitation Of Liability Clauses

In the area of high-tech contracts for software or other services, the use of "limitation of liability" clauses have been heavily negotiated and important. These clauses attempt to “cap” a party's financial exposure while at the same time limiting the other party's potential recovery in the event of a lawsuit.

The following questions have been addressed in this article:

How should this limitation of liability clause be negotiated?
What about carving exceptions in the contract for the limitation of liability clauses?
What are other key clauses that must be carefully negotiated for high technology contracts?
What are key considerations to be a better negotiator in these types of agreements?

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