Yoichiro (”Yokum”) Taku is a corporate and securities partner in the Palo Alto, California office of Wilson Sonsini Goodrich & Rosati. He makes a wide range of standard documents and notes about them available online.

Law in the real world

"contracts aren't worth the paper they are printed on"

If you EVER have to get to the stage of using a lawyer to enforce a contract, you are probably screwed already. You will spend so much time and energy and money that the only person who will benefit is the lawyer.

That's especially true for international deals because, if the contract does not fall under the jurisdiction (ie is not governed by law of) a country like Singapore, where law counts for something, you are not going to be able to enforce whatever has been agreed in practice.

Of course it is still helpful to have a very clear written description of the deal and a lawyer can help you understand your exposure to risk, but don't fuss endlessly over contracts because by and large you will rarely be in a position to enforce them.

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