jakestein

11 ms·

31.
by jakestein 3y ago
I have mixed feelings about this. We embed Dropbox Sign to handle the signature step, so that part of the experience is straight from them. They handle the steps of making sure it's a compliant, legally valid signature, which is great.
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by jakestein 3y ago
Thank you Taylor!
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by jakestein 3y ago
It's all the same principles
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by jakestein 3y ago
I agree that a cloud service agreement is more complicated than a SAFE, and that's a result of the fact that the underlying deal is more complicated. We use the SAFE as an example of a standard contract because it's one that our t
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by jakestein 3y ago
Thank you!
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by jakestein 3y ago
You're totally right that lawyers want to live in Word. In the MVP version of the product, we tried to get everyone into the web app. Some people loved it, but we hit a brick wall whenever someone needed to go to Word. We've since
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by jakestein 3y ago
There will definitely be deals where the standard agreements don't cover every term that is important to the parties involved. We have a few ways to address the kinds of nuances you're talking about. The variables in the cover pag
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by jakestein 3y ago
It sounds like you're way more experienced than me with commercial real estate. I've done a handful of office leases, and I had a similar experience with tons of negotiation and arguing. It was a tremendous pain. On the other hand
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by jakestein 3y ago
The known default point is a big one, and making deviations visible is something we spend a lot of time thinking about. In our software, we make it easy for our users (and their customers) to know that nothing has been sneakily modified. We
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by jakestein 3y ago
I agree that ours isn't necessarily the right model for every industry. We do plan to expand beyond tech eventually. When we do that, we would need to work with a new set of attorneys with experience in that field as you suggest. On y
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by jakestein 3y ago
We would not need a customer's key in order to access a contract. However, only certain members of our team have the ability to access contracts, and they only do that when needed for support or to fix a bug. We log all instances of ac
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by jakestein 3y ago
The short answer is yes, we do plan to add versions for other countries. I expect Canada to likely be the first country we add, followed by the UK.
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by jakestein 3y ago
That's good feedback on our pricing, thanks for that. One thing I'll clarify is that this is just for customers with whom you sign contracts. If you have self serve customers that do click through agreements, we don't charge
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by jakestein 3y ago
This is well said and a really important point that I often forget to highlight. If we're successful, the big companies will see a huge benefit. I've interviewed a bunch of folks on enterprise procurement teams. They won't be
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by jakestein 3y ago
I agree that many of the transactions on the IAB Standard Terms and ISDA Master Agreement are automated and don't involve negotiations. There are, however, also higher dollar value ad buys and derivative transactions that use those sta
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by jakestein 3y ago
That's really interesting, I'm not familiar with FAR and DFAR but spent a few minutes reading about them and I'm looking forward to learning more. We do plan to expand beyond SaaS later on. What kinds of products and services
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by jakestein 3y ago
I had not heard of ConsensusDocs, thanks for sharing. I'm especially fascinated by cases like these where you have to pay for access to the standard contracts. Looking forward to learning more about them. Sounds good re the other quest
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by jakestein 3y ago
I had heard of the AIA forms but not the NAEB, thanks for sharing that one. Looking forward to checking it out. I really like the framing of "an enduring organization that is widely trusted." Many of these are industry association
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by jakestein 3y ago
We were not ready for the huge amount of traffic from HN, but we've got everything sorted out now :) Thanks!
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by jakestein 3y ago
That's great to hear. Please let us know if we can help once you get started
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by jakestein 3y ago
Totally agree that this won't work for all companies or situations. You're right that our initial target market is technology companies, although many of our users are outside Silicon Valley. I also agree that getting large compan
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by jakestein 3y ago
I'd also be interested to know which standard contracts you've seen in the construction industry. We're always trying to learn from other, related projects
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by jakestein 3y ago
To your point about advice on what the blocks mean, we've started to do two things related to this, and I'd be interested to know if either are close to what you have in mind. 1) We have a language library ( https://comm
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by jakestein 3y ago
I suspect you might enjoy signing an NDA with Vandelay Industries https://app.commonpaper.com/pages/eceaa29b0494074a Great point on optional blocks/special terms. We have a project on the roadmap to make it easier
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by jakestein 3y ago
There are a few related things here: By making contract review and negotiation faster, we speed up your sales cycle and grow revenue faster. Faster sales cycles mean that you get paid faster, which in turn means that you can recycle cash in
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by jakestein 3y ago
I really appreciate that, and stay tuned for a standard BAA coming soon. If you'd like to get a preview, email me jake at commonpaper.com
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by jakestein 3y ago
I agree that the edge cases make this extremely challenging. That goes both for making the standard contracts and the software that manages them. For each contract, we go through a multi-month process with 40+ attorneys to vet the standards
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by jakestein 3y ago
Oh wow, I have been researching standard contracts for years and I keep finding out about new ones. I'm going to read up on these Finnish standards, thanks so much for sharing.
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by jakestein 3y ago
Oh interesting, I could see how a percentage of the transaction's value could totally change the incentives and behavior compared to hourly billing. Thanks for sharing that and for signing up
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by jakestein 3y ago
Some of them are six-figure deals. I don't personally know about any seven-figure deals, but we only find out about a minority of the use of the agreements. The NDA is definitely the highest volume agreement, however. And a lot more of

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