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Change of control clause in a contract tells you what happens when one of the parties to the contract changes control, when its ownership or management changes. And its a super critical clause in the context of a deal where one of the parties is changing control like a companys sale, a merger, the acquisition, and really important. Otherwise, its just something that kind of sits dormant. People who are sort of more sophisticated around contracts are actually pretty careful about it when they draft contracts, because they know that at some point in time in the future, companies tend to change hands and it can be really good to make sure that you can do so smoothly. So people who are careful about contracts generally tend to actually care a lot about how changing clauses are drafted, even though theyre very much in the boilerplate. But where change control clauses come up most often is around a change of control. Like youre trying to buy a company, youre trying to sell your company
