Limitation-of-Liability Clauses in Commercial Contracting: Ironclad or Leaky Sieve
The majority of in-house counsel’s time and attention spent on contracts is often focused on the wording of the limitation-of-liability (LoL) clause. In the brave new world of big data, the significance of the LoL clause cannot be overstated. Although they cannot secure protection from all risks, they need not be leaky sieves.