Question 1

What contracts do startups typically need?

Accepted Answer

Employment agreements, contractor agreements, customer contracts, NDAs, vendor agreements, partnership agreements. Varies by business model.

Question 2

Should I use templates or custom contracts?

Accepted Answer

Templates for standard situations (employment, NDA). Custom for complex deals. Start with good templates, modify as needed. Attorney for unusual terms.

Question 3

Where can I get good contract templates?

Accepted Answer

Clerky for startup-specific. Y Combinator has open source templates. LegalZoom. Attorney-reviewed templates better than random internet finds.

Question 4

How do I organize contracts?

Accepted Answer

Central folder or tool. Naming convention with date and party. Categorize by type. Track expiration and renewal dates. Simple is fine early.

Question 5

What is a contract lifecycle management tool?

Accepted Answer

Software for creating, negotiating, signing, and storing contracts. PandaDoc, DocuSign, Ironclad. Overkill for small startups, valuable as you scale.

Question 6

How do I track renewal dates?

Accepted Answer

Calendar reminders work early. Contract tools have built-in tracking. Set reminders 60-90 days before renewal to evaluate and negotiate.

Question 7

What clauses should I always look for?

Accepted Answer

Termination terms, auto-renewal, liability limits, indemnification, IP ownership, payment terms, jurisdiction. Know what you're agreeing to.

Question 8

How long should I keep contracts?

Accepted Answer

Keep indefinitely for important ones. At least 7 years for tax-relevant. After contract ends, some obligations may survive. When in doubt, keep.

Question 9

What if a contract needs amendment?

Accepted Answer

Written amendment signed by both parties. Reference original, specify changes. Keep with original. Some contracts have amendment procedures.

Question 10

Should I negotiate standard contracts?

Accepted Answer

Depends on leverage and importance. Large vendors may not negotiate. Your contracts, yes—understand what you're giving up. Key terms worth fighting for.

Question 11

What is an MSA vs SOW?

Accepted Answer

Master Service Agreement: general terms that apply to all work. Statement of Work: specific project details. MSA signed once, SOWs for each project.

Question 12

How do I handle international contracts?

Accepted Answer

Specify governing law and jurisdiction. Consider currency and payment terms. Some countries have specific requirements. Attorney for significant deals.

Question 13

When do I need a lawyer for contracts?

Accepted Answer

Large deals, unusual terms, high stakes, disputes. Standard contracts can use templates. If it feels important or risky, get legal review.

Question 14

What about verbal agreements?

Accepted Answer

Often legally binding but hard to enforce. Always get significant agreements in writing. Even email confirmation better than nothing.

Question 15

How do I handle contract disputes?

Accepted Answer

Review the contract first. Try to resolve directly. Escalate to management on both sides. Mediation before litigation. Document everything.

I need to manage contracts and agreements efficiently

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