Biotechnology companies routinely enter into contracts with a variety of business partners. Too frequently, they are signed without considering the downstream consequences of overly generous/one-sided indemnification provisions or the liberal granting of additional insured status. Failing to realize the extent to which such provisions are negotiable or rushing to sign a contract because of its perceived importance irrespective of whether liabilities are fairly apportioned are common traps, which challenge both emerging and established biotechnology companies. This session will provide a practical framework within which to establish a company's philosophical and contractual approach to the issue in their own legal templates, as well as a methodology to assess the contracts of others you are asked to sign.

• Raise awareness, especially in emerging companies, of the need to manage this issue
• Provide a framework to help companies assess the appropriateness of contracts they are asked to sign
• Protect companies from protracted litigation on issues over whivch they had no control, and for which they ought not be responsible