Detail of webinar for “Limitation of Liability Clauses in English Agreements”
This webinar session will be held on Friday, 26th December from 18:00 Japan-time. More details can be found below, including details for registering, and the dates/topics for future webinars.
If you are interested to join, please feel free to contact us.
About the webinar
| Date | Friday, 26th December PM 6:00 – 7:00 (JST) |
|---|---|
| Language | Japanese |
| Fee | Free of charge |
| Register | E-mail : info@kslaw.jp |
Topics
Limitation of Liability Clauses in English Agreements
When conducting M&A with foreign businesses or entering into license or outsourcing agreements, it is not impossible to avoid the possibility of being involved in a lawsuit abroad for default of obligation. In the event of litigation in a foreign country, the legal fees alone can cost tens of millions of yen, and the liability for damages can be enormous. With such litigation risks, it is difficult to consider the profitability of the business. Therefore, when drafting an English-language agreement or negotiating an English-language agreement with a foreign company, a major topic of discussion is whether or not it is possible to limit damages for default.
The most common method of limiting liability for damages is to set an upper limit on the amount of damages. The maximum amount may be capped by monetary amount or based on the amount of the transaction. There are also cases where time or method restrictions are set, such as limiting the period during which damages can be claimed to one year from the time of default, thereby reducing the possibility of a claim for damages, or limiting the method by which damages can be claimed to international arbitration.
In some cases, the nature of damages is considered, and indirect, consequential, or incidental damages are excluded from the scope of damages, or liability for default may be pursued only in cases of intent or gross negligence on the part of the obligor.
This seminar is open to everyone, so please register if you are interested in Tips for Speaking English in Business. The seminar will be held online, so you can participate from your office or home. We will send you the URL to join the Zoom conference. We look forward to seeing many of you there.