As a fresh startup founder, your main goal is to build a strong product and sell it to your customers. A little-known fact is that having the right legal documents in place can help you reach that goal faster. It drastically speeds up your sales cycle and decreases operational costs.
This blog post is dedicated to guiding you through the essential commercial contracts your startup needs to drive revenue.
The list of essential contracts you’ll need depends on two criteria: the location of your target customers and your business model (B2B or B2C). Generally, these documents fall into three categories: contracts used in pre-sales, contracts used in sales and privacy-focused documents.
For B2B businesses, the pre-sales phase is crucial because you need to showcase the value of your products or services. To do this well, you need to know your prospect inside and out. That’s why you should use a standard Non-Disclosure Agreement (NDA). An NDA protects sensitive information such as product details and client lists, ensuring a safe framework for future collaboration.
Once you move to the sales phase, you need to make sure the terms of cooperation with your customer are clear. Otherwise, the relationship can turn sour. In B2B sales, you’ll be typically operating with Order Forms (focused on a specific transaction) and Master Service Agreements. And if you’re engaging a third party (e.g. a reseller), you might also want to implement an Agency Agreement. B2C businesses typically work with Terms of Use for their end users.
No matter where you do business, you’ll have to comply with certain privacy regulations. This also involves adopting privacy-focused documents aimed at ensuring your users’ data are processed in a lawful and transparent way. Some documents vary based on your location, but you’ll always need a Privacy Policy to communicate details about data processing to your end users.
Want to get a full list of the commercial contracts your startup needs? Fill in this form and get a handy one-pager tailored to your business straight to your mailbox. It includes an overview of all must-have documents, their simple and practical description and recommended contents.