Dec 27, 201201:03 PMOpen Mic
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Business continuity planning: Conduct a critical vendor review
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Not only is business continuity planning required by law in many cases, it is also a sound business practice to help ensure the uninterrupted operation of a business. The demise of a critical vendor is one such event that may result in significant loss or downtime. Companies should conduct an annual review of critical vendors. The review should focus on confirming that the vendor is financially stable and that there are adequate protections in the agreement with the vendor.
Attorney Andrew J. Schlidt is a shareholder with the law firm Whyte Hirschboeck Dudek, where he is co-chair of the firm's Corporate Practice Group and is leader of the Technology Law team.
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