Template and automated legal documents are increasing in popularity.
For years there have been many websites offering standard contracts for download. Most of these have a US/European law focus, but the past couple of years have seen some similar services launched in Asia.
Some of these websites offer a very comprehensive collection of legal documents which address the needs of startups and small businesses in particular — everything from NDAs to equity investment agreements are available for download, usually with a fee.
My cover slide for this part of the workshop reads: “Be very very very very careful when using standard contracts” — I’m not sure whether I should have added a few more ‘very’s to statement.
Business owners should be extremely cautious when using these legal documents.
The Malaysian startup scene has noticeably increased in vibrancy in the past couple of years. Many of us have friends or relatives who are somehow involved in the startup scene — either as founders or investors.
An increasing number of people — young and not-so-young, and some lawyers too — are moving away from traditional career paths and joining the startup ecosystem.