Infringement can kill your company. A mere allegation of patent infringement is one of the most expensive types of claims to defend. You can attempt to reduce the risk of patent infringement allegations with robust warranties and indemnities to back them up.
Security is seminal to your reputation. Have you heard this before? Yes, without at least a basic representation and warranty regarding the security practices and protocols of a company providing software or technology or related services, you may be left holding the bag. And liability aside, reputation is everything.
To own or to not to own. If a contractor is developing software for you, be certain to include the magic words "work made for hire" in the contract. Also add a robust belt-and-suspenders intellectual property assignment. Otherwise, you may not own what you believe to be yours.
Service levels without penalties. If you will receive software services or hosting, specify objective service levels and what happens if they're not satisifed. Don't call what happens penalties (which are not enforceable). Do call them liquidated damages (which generally are enforceable if they are a reasonable estimate of actual damages).
Seek the source. Consider whether to obtain source code if the company providing the software does not perform, notwithstanding the threat of liquidated damages, or becomes bankrupt. A source code escrow for this purpose can keep you out of technology traps. And it will help you avoid software without a solution.
THE BOURNE FIRM