I recall this being present in IT contracts at least ten years ago, but some time around then people figured it out and started insisting on removing that secti

I recall this being present in IT contracts at least ten years ago, but some time around then people figured it out and started insisting on removing that section... though I actually personally saw something like this for the first time just last week. Fortunately, a client had just sent me the wrong form, but there's no way I would have signed it. It's just a matter of carefully reading contracts and making sure you know what you're getting yourself into.