The contracts are now often claimed liquidated damages. This is a good kind of security because they do not require any financial investment, you do not need to register it, etc. Can you reduce the imposed the penalty for your company that you believe is too high?
Liquidated damages - especially with the addition scrumptious promissory note - this is a good type of security, you anticipate that there might be difficult to assess the damage and prove eg resulting from a breach of confidentiality or non-competition. In such a situation you do not need to show damage, and it is enough to indicate the same infringement, and added that the parties agreed in the contract "if the violation is worth."
However, it is important to note that the amount of security must be high - but a need to assume that such . divulged confidential data is of utmost importance. Meanwhile, in a particular case, you may find that there was a de facto disclosure of non-essential information. Then the other party may request a reduction of the penalty.
accordance with Article. 484 § 2 of the Civil Code to reduce the penalty may be claimed if: • The commitment was
performed a substantial part or
• liquidated damages is grossly excessive.
if it imposes a penalty on a contractor, you have to expect that such a plea will appear, so be prepared, and before you refer the claim to court, make sure the violation is indeed such that you decide to pursue a whole sentence.
more about how to make the contract, read the guide, "Advisor to the President a limited liability company."
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