If you can't delete an entire sentence, try modifying it. You are likely to encounter contract provisions that place a lot of risk on you that the other party will not allow you to delete. When this happens, knowing how to modify it to reduce your risk, while keeping the provision is a great [...]
e-Signatures are better than physical signatures in most situations. Here's what you should know. Most e-signatures are valid The ESIGN Act (the Electronic Signatures in Global and National Commerce Act) was signed into law in 2000. Moreover, most states have adopted some from of the UETA (the Uniform Electronic Transactions Act). In general, these [...]
You can't afford to get this part of your contract wrong. Here's how to do it right! First, an intro to why this matters... The party to a contract is the person or business responsible for all of the obligations in the contract. Thus, if an obligation isn't performed, the named party is the [...]
Do you know the answer? Are you sure your answer is right? If not, here are some tips to finding the right answer. The Default Rule This part is pretty easy–the person that creates an original work will own the copyright to that work unless one of the exceptions below applies. Three Exceptions There [...]
Writing numbers two (2) times in contracts is a really dangerous thing to do. Here's why.... Just last week, I was reviewing a contract that said "two thousand dollars ($3,000)." Had I not caught that, my client and the other party would have signed a contract with a clear ambiguity. Is it $2,000 or [...]
Writing a contract is easy when you follow these five simple rules. 1. Use "Shall" to Create Obligations An obligation is something a party must do. You should use “shall” to create obligations. (Obligations also create “rights” on the other side. In this example, Bob has a right to expect Gene to perform.) Example: [...]
Our presentation was selected again for WordCamp Kansas City! Join us to learn the Five Legal Issues Every Freelancer Should Understand. You can buy tickets and learn about WordCamp on their website. The presentation: If you are running a freelance business in Kansas City (or even just moonlighting), you should consider how the law impacts what [...]
“Everything is negotiable.” Ok, well not everything, but many things are. Here are nine tips to help you negotiate your next contract. To begin, you should note that if a contract contains errors, or simply doesn’t meet your expectations, you should raise your concerns and negotiate new or modified terms that are mutually acceptable. [...]
Many entrepreneurs struggle when it comes to reviewing contracts. Here's a two step process to make it a little easier for you. At the outset, you should look at things from a high level. Then, dive deep into the nitty gritty. >>> Looking for contract templates? Check out our Contract Shop. 1. High Level [...]
Ownership of intellectual property is a critical issue in many contract negotiations. Learn the basics about what entrepreneurs should know in this post. Intellectual property is often the most valuable asset of many companies, especially startups. That's why it is important to clearly address ownership of intellectual property in your contracts with third parties. [...]