To enable growth while managing risk for indemnification, apply the following approach:
Simply, indemnification is about damage control.
“We want meaningful accountability for the issues someone else creates. If another party is creating the issue, we want accountability to protect us from the potential damages.”
- Scope or protection (indemnify / hold harmless)
- Cause standard (arising out of or related to)
- Claim sources (first party / third party)
- Claim types (e.g., IP infringement, violation of law)
- Exclusions (e.g., IP protection N/A for modified deliverables)