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Founders' Agreement for Startups: The Complete Guide

Founders agreements are important documents for any startup.  They ensure that all the business founders understand their roles in the company, agree on how decisions will be made, how equity, assets and capital will be shared, as well as the rights, responsibilities, obligations and duties of each member of the startup. Why You Need a Founders’ Agreement If you’re planning to start a new business with another person, you need to make sure that you have a clear understanding of who owns what and what each party’s responsibilities are and how shares are going to vest with each party. This also includes things like who gets paid first, who has final say, and who takes care of what. The main aim of a founders' agreement is to avoid future disputes from cropping up. You might think that shall not happen, but you would be surprised as to how common this actually is. When is a Founders' Agreement Used | Instances when You Might Need a Founders' Agreement A example of how a founde

9 Best Market Research Tools for All Your Needs: 2022 Review

A startup must know what its customers want. Otherwise, it is setting itself up for failure . That's why conducting thorough market research is a must for any product or service development process. Why Do You Need these Market Research Softwares / Tools? Market research helps show you who are interested in your product or service, where they are, how to reach these potential customers and how much they are willing to pay you. It is a continuous and on-going process that you use and reuse while you create your proof of concept , prototype, MVP and repeated product or service reiterations. It also helps you create your business strategy and improvise upon your business model and revenue model(s) . That said, here are the best of the best market research tools that are sure to ease the process out for you as well as speed it up, so that you can collect and analyze insights on the go. Market Research Tools for Various Purposes Best Tools to Analyze Pre-Existing Data, Understand Tre

11 Types of Commercial Contracts: (And How to Create Them)

Disclaimer : This article is for informational purposes only. If you require legal help with your contract drafting, send us an email and we will help you out. What are Commercial Contracts? A commercial contract is a legally enforceable instrument that binds one party to either do or not do something. It is utilised by and among businesses when entering into transactions with other parties, such as when buying, selling or leasing products and services, or hiring individuals or employees.   Commercial contracts include the conditions of the agreement, which encompass all relevant details of the transaction being entered into, such as force majeure , covenants , representations, recitals , mitigating circumstances , dispute resolution procedures as well as jurisdiction of the agreement in a court of law. Check out this article on the essentials of a contract to know more .   Improperly Drafted Commercial Contracts A breach of contract occurs when one party fails to meet their en

How to Create a Law Firm Marketing Plan: A Step-by-Step Guide

A law firm marketing plan can improve your business in countless ways.  A properly laid out law firm marketing plan will show you how to attract new clients, retain old clients, and increase the number of clients you have on retainer. Your law firm marketing plan should not feel overwhelming or take up too much time. You need to create something that takes the least amount of time but provides the most benefit. This article will guide you through the entire process of creating a marketing plan for your law firm, step-by-step. First, You Need to Know What Your Law Firm Stands For #1. Get clear on your law firm's mission and goals. Your first step is to get clear on your mission and goals. How do you want your law firm to contribute to the world? What is your purpose? Why do you want to be in business? Ask yourself why you want to start a law firm. What problem are you solving? What are some ways that other lawyers haven’t solved this problem? What is the difference between your solu