Thanks everyone. It's nice to be Karthik's hero.
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Originally Posted by umer936
As for the contract itself, I plan to read through Tristan's post and learn about how to improve my methods of writing a contract. Thanks, Tristan! 
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No problem—I find this stuff legitimately interesting, and am happy to discuss anything you'd like clarified, or to which you might take exception. As much as I'd like to have the last word, many of the things I articulated are a balance between competing factors, and it's entirely possible that further discussion might reveal a better solution.
Also, I think this is a good opportunity to point out that there is real value to having a solid technical foundation when approaching legal questions: for me, computer science classes and competitions made for an excellent practical introduction to the fundamentals of logic. This in turn makes it much easier to break legal questions down into what are effectively subroutines, and analyze them critically and (somewhat) objectively.
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Originally Posted by cglrcng
Tristan, WOW!...Pre-Law eh (forget the classes, take a shot @ that Bar Exam now and save on the student loan payments later)....Your parents must be proud counselor.
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I have to admit I'm a little past the stage where pre-law would be a reasonable option—my academic background is in engineering and public policy. Though that often involves law, it is frequently combined in interesting ways with technology, quantitative social science, finance and management. And my brother is the lawyer
1 in the family, so it's he you'll need to watch out for in the courtroom.
1 Well, almost—he will be called to the bar shortly.