I think an agreement starts to become suspicious long before anything blatantly illegal happens. There can sometimes be early warning signs: 1. When the deliverables are vague or unnecessary.If the scope of work is poorly defined (“general advice,” “thought leadership,”…   Read more»

I think clearer numerical standards could help, but they might not fully solve the overlapping problem. Even if the industry set strict limits, for example, a maximum dollar amount for meals or travel, companies would still need to interpret what…   Read more»

Many of the objectives stated in this forum are examples of requirements that companies should measure when approving and evaluating service suppliers for consulting or legal work. Documenting these requirements, as well as the evaluations of approved services, contributes to…   Read more»

Sometimes with verbal contracts, they usually fail to explain the little details within the big picture which is why written contracts are more ideal and less risky. However, one method of making verbal contracts better is sending following emails that…   Read more»

I think the biggest difference between a written agreement versus a verbal agreement is that a written agreement is physical, so there is evidence to support the terms of the contract. with a verbal agreement, there is no proof of…   Read more»

I am actually impressed with how much I learned in this course. As someone who wishes to work in the medical device development industry, I am very glad I took this course. This course is just as I thought it…   Read more»

Verbal agreements can be acceptable when there is evidence to support that one or both parties were providing services and benefiting each other. Records such as emails, meeting minutes, or purchase orders can be used to enforce a verbal agreement….   Read more»

I agree with the idea that having a clear and legally documented plan is crucial for any company’s stability. A lot of you emphasized how important it is, not just for the sake of organization, but to prevent confusion, disputes,…   Read more»

This thread really highlights how broad and serious federal fraud laws are within healthcare. I especially appreciate how several of you broke down the differences between the Anti-Kickback Statue and Stark Law. As many of you mentioned, they often get…   Read more»

Nick, you brought up an important point about NDAs serving a dual purpose, not just protecting the company’s IP, but also creating a clear basis for action if the agreement is breached. I agree that in fields driven by innovation,…   Read more»

From personal experience, signing NDAs can be nerve-wracking, especially for your first few jobs or projects. But it teaches you the importance of keeping a secret at the professional/industrial level. First, NDAs must be signed in good faith. Simple as…   Read more»

NDA standards for Non-Disclosure Agreement and these are common agreements between companies to protect confidential information and trade secrets. It is a basis of consulting with and interaction between companies. Generally, consultants are being paid to work for the company,…   Read more»

What others have said about a mandatory ethical compliance clause, single enforcement system, standardized dispute resolution mechanism, uniformity, and consistency are all valid major requirements that should be put in a hypothetical international contract law. I think the most important…   Read more»

If I were to be the owner of a company and something were to happen to me, yes, I would think it would be beneficial to have a mapped out plan of legal proceedings and how to handle deals when…   Read more»

NDAs have two purposes: to protect the company that issues them, and to guarantee that they can act against the consultant/staff member should they breach that agreement. NDAs are a must when a company does not want any sensitive information…   Read more»

This course really helped me understand what actually occurs in the medical device world and what the work will be like day to day. I enjoyed seeing each step of the development process in a way that made sense. It…   Read more»