Employees  |  Contractors  |  Contracts

Write or Review Contracts

Contracts are usually over done or under done. The average attorney over writes a contract, and because of that, many businesses under use them.

A contract is nothing more than a story. It tells the reader what is supposed to happen. Party A is going to develop a piece of software. The software is going to do X, Y and Z. Party B is going to pay Party A some money when the software does X, and some more money when it does Y and Z.

It is impossible to write an iron clad (perfect?, 100% contingency proof, fool-proof) contact. And if you start approaching iron clad, no one will sign it. But a good contract can help avoid or resolve about 75-90% of the problems that may come up in the course of a business relationship.

Contracts come in various forms. Every business transaction involves a contract, although in some cases nothing is written down, and some are written down on pre-printed forms rather than drawn up from scratch.

One of the first things Venture Capitalists check during their due diligence prior to investing in a company is the state of their Contracts. Would your contracts pass muster? Would you like them to be VC ready whether or not you are currently seeking funding?

Where to go from here ...

Click here for a little information about writing a contract