When it comes to construction projects, the importance of planning can't be overstated. Whether you're a builder, supplier, designer, contractor, subcontractor or owner, the success of a project depends on the planning and the strength of the contracts between all parties involved. As with a built structure itself, protections against liability and the trajectory of profits must come from a firm foundation, and solid contracts are that foundation.
A patent-licensing company has sued Boston Scientific Corp. over a reported secret settlement agreement Boston Scientific reached with Twin Cities-based St. Jude Medical Inc. According to a news report, the patent firm Mirowski Family Ventures - owned by the family of the man who invented the pacemaker - is accusing Boston Scientific of breaching a contract, and engaging in unjust enrichment and constructive fraud due to its deal with St. Jude.
In 2007, a group of construction industry associations collaborated to publish the ConsensusDOCS contract forms. These forms were meant to provide a uniform set of contract documents which could be used in construction projects.