Technology has revolutionized the property management industry, and commercial real estate owners and managers are licensing an increasing number of cloud-based services. We released a white paper detailing why Cloud Software services must have a separate contract from physical services (such as janitorial and maintenance services). One-size-fits-all contracts are no longer sufficient.
“Software relationships have changed substantially in the age of the Internet,” said David Osborn, President and CEO of Building Engines. “The days of purchasing software for a large lump sum with annual maintenance costs are over.”
The White Paper explains:
- The unique nature of Cloud software and licensing
- How to identify common contracting problems and negotiate license terms
- How to protect and maintain control of your organization’s building data
In addition, a bonus checklist of “Real World vs. Virtual World” contractual issues is included to provide even more guidance on how to choose an appropriate service level contract. The table was produced by Sam Hudson of Foley Hoag LLP, a Boston-based law firm which focuses considerable resources on cultivating the next generation of technology companies.