The main thing I look for is unknowable downside. For example, when a big company asks my small company to indemnify them, I always limit the indemnification to whatever they paid for the work. If they don't like that, then I get a different client.

ALSO, NEVER let lawyers run the show. Lawyers are your water boys/girls -- they do what YOU want them to do. If they don't, then get a different lawyer. YOU have to read and understand everything in a contract -- and lawyers can help you do that. But in general, you tell your lawyer what you want, and she does it. End of story.