This post is a part of a series based on my Law for Startups workshop at MaGIC in September 2015. It’s a basic introduction to legalities for startup founders. You can access the slides here.
Read the earlier posts for context:
- Law for startups in Malaysia — building on the best foundations.
- The legal landscape in Malaysia for startups — a hybrid of traditional corporate practices and Silicon Valley models.
- Choosing the right business vehicle for your startup or small business in Malaysia.
- When should a startup hire a lawyer?
- Oversights which could destroy your startup or small business.
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.