Preheat the oven to 375 degrees. Line two cookie sheets with parchment paper.
In a large bowl, combine the butter and sugars until fluffy. Add the eggs and vanilla and beat well.
Add the flour, baking soda, baking powder and salt. Mix well. Stir in the chips.
Drop dough by tablespoons 2 inches apart onto prepared cookie sheets.
Bake the cookies for 11 to 12 minutes, until golden brown. Remove from the oven, and cool on the pan for five minutes. Transfer to a wire rack. Repeat with the remaining dough.