Video

  • 15 minutes

Vendor Due Diligence

 
Due diligence is key to understanding whether or not the party you are going to contract with can actually perform and be relied upon. Due diligence is also useful when you were not able to negotiate a tremendously favorable agreement and something goes wrong. It’s important to be able to establish that you were diligent is selecting a particular vendor, showing that you had evaluated the vendor and that there were no past performance problems, or stranded a customer, or had security breaches.
From the outset, vendors must be on notice that the information they provide as part of the company’s information security due diligence will be relied upon in making a vendor selection; and part of the ultimate contract. To ensure proper documentation and uniformity in the due diligence process, companies should develop a vendor due diligence questionnaire.

In this 14-minute video our speaker, Michael R. Overly, discusses questionnaire advantages and use. The questionnaire provides an easy means for incorporating due diligence information into the final contract. It will also be a tool to educate your vendors about your compliance expectations. Mr. Overly also reviews key areas to include in questionnaires.

Michael R. Overly is a Partner with Foley & Lardner LLP. He focuses on drafting and negotiating technology-related agreements, software licenses, hardware acquisition, development, disaster recovery, outsourcing agreements, information security agreements, e-commerce agreements and technology use policies. Mr. Overly is one of the few practicing lawyers who has satisfied the rigorous requirements necessary to obtain the Certified Information System Auditor (CISA), Certified Information Privacy Professional (CIPP), Certified Information Systems Security Professional (CISSP), Information Systems Security Management Professional (ISSMP), and Certified Risk and Information System Controls (CRISC) certifications.
Runtime: 14 minutes

Faculty

Michael R. Overly

Michael R. Overly

Foley & Lardner LLP

Agenda

Faculty

Michael R. Overly

Michael R. Overly

Foley & Lardner LLP

  • Partner with Foley & Lardner LLP
  • Focuses on drafting and negotiating technology-related agreements, software licenses, hardware acquisition, development, disaster recovery, outsourcing agreements, information security agreements, e-commerce agreements, and technology use policies
  • Published numerous articles and books in the United States, Europe, Korea, and Japan
  • Interviewed by a wide variety of print and broadcast media (e.g., The New York Times, Los Angeles Times, Business 2.0, Newsweek, ABCNEWS.com, CNN, and MSNBC) as a nationally recognized expert on technology and security-related matters
  • Conducts seminars in the United States, Norway, Japan, and Malaysia and has testified before the U.S. Congress regarding online issues
  • One of the few practicing lawyers who have satisfied the rigorous requirements necessary to obtain the Certified Information System Auditor (CISA), Certified Information Privacy Professional (CIPP), Certified Information Systems Security Professional (CISSP), Information Systems Security Management Professional (ISSMP), and Certified Risk and Information System Controls (CRISC) certifications
  • The Legal 500 recognized him for his information technology work in the U.S., 2010–2014
  • Selected for inclusion in the Southern California Super Lawyers® list and was honored by Los Angeles magazine for this recognition
  • Recognized by Chambers USA for his IT and outsourcing work in 2013 and 2014
  • In 2014, his practice group was named one of the World’s Best Outsourcing Advisors by the International Association of Outsource Professionals

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