When drafting a contract, using a generalized template isn\u2019t a good idea. Your MSA must reflect the individual needs of each respective client, address all likely scenarios, detail the requirements and responsibilities expected from all parties, and specify who is liable for what.<\/p>\n
The latter has become even more critical in today\u2019s shifting cybersecurity landscape and increased regulatory oversight. Presenting unscrupulous clients with vague contracts containing poorly phrased clauses gives them loopholes to use against you when something untoward happens.<\/p>\n
Some of the major reasons why MSPs should have a lawyer in their corner include<\/p>\n
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- Staying on top of regulatory requirements<\/li>\n
- Crafting well-thought-out MSAs\/SLAs with no loopholes<\/li>\n
- Expert legal counsel to handle disputes or litigation proceedings<\/li>\n<\/ul>\n\n\nFREE ASSETS<\/div>\nSLA and SOW Templates for MSPs<\/div>\nCreate well-documented processes to provide an outstanding level of services<\/div>\n
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<\/div>\n<\/div>\nStay on Top of Regulatory Requirements<\/b><\/h3>\n
Not only do MSPs have to deal with the technologies required to ensure the security of their clients\u2019 data and IT infrastructure but they also need to meet the legal requirements stipulated by the various regulatory bodies. Depending on your clients\u2019 industry and vertical, you may need to comply with HIPAA<\/a>, GDPR<\/a>, PCI DSS, or financial services regulations. An attorney can help you examine this complicated hodgepodge of rules and break them down into understandable bits and pieces.<\/p>\n
Attorneys who are in tune with the regulatory environment may be able to anticipate future changes and help MSPs prepare adequately. Today\u2019s IT regulatory landscape is in a constant state of flux where sudden changes can catch MSPs off-balance, putting them in a reactive state where they are exposed to significant levels of risks.<\/p>\n
Most SMB\u2019s (from medical practices to start-up IT businesses) do not have the requisite resources to keep full-time IT staff on payroll. As such, they rely on MSPs to not only provide outsourced IT expertise but to secure their data and ensure that their IT infrastructure and business processes comply with the various regulatory requirements for their industry.<\/p>\n
You may have the technical expertise to provide the former; however, you need legal counsel to keep a handle on the latter. This is because legal counsel informs and influences technical decisions. Although MSPs can build virtually impenetrable IT infrastructures, such systems are usually inflexible and may restrict clients from effectively doing business or taking advantage of new opportunities.<\/p>\n
Attorneys can help MSPs strike the right balance. They can help you put in place both adequate and legally-mandated protections that enable your clients to do business effectively while avoiding repercussions from regulatory bodies.<\/p>\n
Identify Exploitable Loopholes in MSAs\/SLAs<\/b><\/h3>\n
If you are unwilling to take on the responsibility of securing clients\u2019 data or complying with industry regulations (or clients are unwilling to pay for such services), attorneys can explicitly include clauses in the SLA that exculpate you from all liabilities in the event of a security breach.<\/p>\n
Likewise, even if you do take on such responsibilities, the client may be required to take certain actions to aid you to achieve the objectives set out in the SLA. For instance, the client may require to back up production data twice a week. Your SLA should specify that the clients\u2019 failure to do their part may render you unable to deliver on deliverables.<\/p>\n