The Hidden Risks in Your Cloud & SaaS Contracts
from Enterprise Explores Hosted by BFM Media
As businesses move to the cloud, they are no longer buying software, they are subscribing to a service. This critical shift from ownership to access is governed by Software as a Service (SaaS) agreements, and many leaders are signing them without understanding the significant risks. Lawyers Ong Johnson and Lo Khai Yi (of Halim Hong & Quek) join us to decode these complex contracts. They explain the common pitfalls, from ambiguous Service Level Agreements (SLAs) and data ownership clauses to the new IP concerns being raised by generative AI. We discuss: The shift from software "ownership" to "access" and what it means for your rights. Why the Service Level Agreement (SLA) is the most critical clause for B2B. Data ownership: who really owns your data, and can your provider use it to train AI? The crucial components of an exit strategy to ensure data portability. Red flags to watch for in auto-renewal and price increase clauses.
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