Here are some of the key points contained in the video:
1. Should attorney fee and legal costs provisions be included in an arbitration clause? Examples of options:
A. Arbitration is required, but attorneys’ fees and legal costs are specifically not allowed to be recovered by the prevailing party
B. Prevailing party can recover its attorneys’ fees and legal costs from the non-prevailing party
C. The arbitrator has discretion on these issues..
2. Consider which party is more at risk of being sued and which party has more resources.
Does the type of attorney fee being charged influence these drafting decisions?
If considering a legal agreement presented to you, you should have your attorney take a look at the contract and then make a careful decision on how to proceed based on a thorough legal analysis of your situation and the proposed contract.
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