To their detriment, too often clients as well as lawyers skim or skip the first and second stage of proposed transactions. When they do this they enter a forest with no clear path to follow. When they follow the three stage transaction or contracting process they move from casual dating, to going steady, to getting married. It's that simple. There are three stages for most intellectual property and business law transactions. The first stage is needs assessment. The second, deal points definition. Only after the first and second stage are at least properly considered should anyone go to the third stage – formal contract drafting.
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