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L-R Barbara Melby and Eric Pennesi, Morgan Lewis Bockius. L-R Barbara Melby and Eric Pennesi, Morgan Lewis & Bockius.

With technology being the ultimate enabler across the majority of industries, commercially available “off the shelf” software products have become the lifeline of many businesses. When licensing such software products, customers often must agree to use the vendor’s form of agreement, even for software products that are large investments for, and critical to the operations of, those customers. The customer should nonetheless review the vendor form closely and negotiate key terms as necessary to allow the customer to effectively leverage the software to meet operational needs over the long term, as well as mitigate material risks.

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