Problem: Often times businesses and lawyers only focus on the terms of the contract in light of each party putting forth their best efforts. They fail to consider what happens in the event of breach. When I took contracts in law school, my professor hammered the point that lawyers should contemplate breach of contract in every case.
What type of information would you provide to you company's lawyer in regard to penalties for breach? Should breach terminate the entire contract or could there be monetary penalties, etc?