Legal Agreements every business needs [ Infographic]

We have compiled a list of basic legal agreements any business in South Africa will need.

Enjoy.

Legal Agreements available on our platform http://www.lenoma.co.za/shop

Regards,

Lenoma Legal Team

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5 contract clauses in any Legal Agreement you should look into.

Here are 5 basic contract sections that you should review carefully before signing the contract.

1. The parties to the contract.

This section of the contract is important because it tells you who they are entering into an agreement with.

– Is it another person or several people? Is it a business?

– Are you signing the contract on behalf of their business or in an individual capacity?

Are the names of all parties spelled correctly?

2. The “money” terms.

This section of the contract is important because it deals with the money.

Does it clearly lay out how much a good or service will cost?

When, how much, and how long will you have to pay the other party or will the other party have to pay?

3. Jurisdiction and Governing Law.

This section of the contract explains what law applies to the contract and the location where a dispute must be brought if there is a disagreement

Jurisdictions or countries may have different laws, so knowing which law applies to your contract is critical to understanding your rights.

4. Attorney’s Fees.

Some contracts have a section that states that a losing party in a dispute has to pay the winning party’s attorney’s fees and costs. This is an important section to you because you may be able to get their attorney’s fees reimbursed if a dispute arises out of the contract and you win.

5. Signature page.

This section of the contract is so obvious that it often gets overlooked.

Did all of the parties sign the contract?

These are just a few of the sections that your potential client should carefully review prior to signing a contract. However, every section of a contract is important.

If the contract is still confusing to you, at least they still have you to review it with us or any of our partner law firms.

Get a copy any business agreement here at Lenoma Legal eShop.

Legal Tech. Hype or not?

There’s been an increased awareness in legal tech these past couple of years in South Africa.

And much like the rest of the world, seemingly we are catching up and with Legal Tech companies such as Legal legends, Lenoma Legal, and Legal Connection coming out trying to make legal services more accessible, is like to think we are on the right track.

South Africa also recently partook in the inaugural Global Legal Hackathon which was held at the Tsimologong Prescint.

First of, what is legal tech?

LegalTech laymen’s description of it is that it’s a term to describe the technological activities of this sector.
I.e. we are talking about technology that is made use of by a sector of the economy. Hence, LegalTech

Benefits of Legal Tech in South Africa?

1. Lowers the barrier to entry for legal protection as previously and currently confined to law firms.

2. Certain things you can do, without the need to seek counsel. The dissolution of the traditional legal business model is good news for public interest law.

3. Access to justice is a fundamental human right, but most cant afford to hire legal practitioners when the need arises due to them being expensive.

Legal Aid SA, pro bono lawyers and some independent legal organizations that defend thethe pub, provide a much needed and very great legal aid services, but the demand for legal support far outweighs the supply of legal aid services. There simply aren’t enough lawyers. Lack of finances shouldn’t be a barrier to justice.

4. There are simple applications of technology can streamline legal representation. While probono legal representatives still overtasked automating administrative tasks and referral processes frees up valuable time and can be a life changing intervention eg Legal Connection- SAs first call back Legal Service).

4. The case for use of legal tech is obvious but the market remains unaddressed. There’s a growing need for increased justice for people otherwise left behind by our legal system.

Look, lawyers aren’t going anywhere, we need them. But right now, technology and tech philanthropy have a huge opportunity it fills an existing gap in justice and legal equality.

Want to know more about legal tech in South Africa.

You can find us on Twitter

@lenomalegal or use our official hashtag #Lenomalegal

Why you need an NDA!

You might have realised our NDA is free on our website http://www.lenoma.co.za (direct link is here Basic NDA.)

But what’s the big deal about NDAs so how do you use it or for what is it for exactly and how it’ll benefit you?

There are many benefits and advantages for using an NDA:

1) The most obvious advantage of an NDA is protecting your information!

An NDA agreement allows you to agree on what information can and cannot be disclosed to others;

what each party’s obligations are in regards to the confidential information;

and how information is dealt with upon termination of the NDA.

2) An NDA agreement can allow parties to define what “confidential information” is, so that it is clear to both parties throughout their relationship what is considered confidential and what subsequently cannot be disclosed.

What type of information can be considered ‘confidential’ is endless, and it can include anything from patent ideas, test scores, employee information, passwords etc.

Setting out what is included as confidential information can save a lot of time in the event a dispute arises and a lawsuit is brought, as the judge can see whether the information disclosed is specifically listed or described in the NDA.

Drafters of the NDA can be as precise as they wish when defining what is confidential in their agreement by including an exhaustive list of specific items.

Others will want a broader, non-exhaustive list which may include language such as “all information disclosed in the course of fulfilling the purpose of the agreement”.

Drafters can also include exceptions to the prohibitions on disclosure such as information that is generally available to the public;

information obtained by a third party who is not bound by any confidentiality agreements;

where information is trivial;

information developed for the recipient independently;

information disclosed through no fault of the recipient party and information that was already known by the party before signing the NDA.

These exceptions are common in NDAs.

3) A well-drafted NDA will outline the consequences for those that breach the NDA, which will likely include a hefty monetary fine.

The party that breached the NDA can also be subject to a court order preventing them from continuing to disclose any confidential information that was protected by the NDA.

4) An NDA assures parties that information will remain confidential, and can include survival provisions requiring the party to not disclose the confidential information for a stated time period (eg. 2 years) after their relationship has ended.

Takeaways

– If you are considering a business deal, try to have the other party review and sign an NDA before entering into business discussions and possibly exchanging confidential information. The sooner the better!

– Pay close attention to the definition of confidential information before signing an NDA, so you are clear what information (of yours) is protected, and what information (of the other party) cannot be disclosed to others.

Hope this helps you in your business journey!

Team Lenoma Legal

http://www.lenoma.co.za

Free Basic NDA up for grabs!

So you not sure how this legal document download thing works?

Try this out, download this NDA, find out for yourself how it works.

Not only will you be getting an updated legally binding NDA, you will also get to see our work.

Here’s the link Basic NDA

We offer more legal documents here http://www.lenoma.co.za

Share, this link, tell a friend!

Get your legals, RIGHT!

The problem with most business owners is that they only choose to seek legal assistance when the are in trouble.

And that is the wrong approach, for a couple of reasons:

  1. Approaching a lawyer when only in trouble will most probably increase your costs, more than usual.
  2. Your case will not only be more complex, it might also take longer

Sign  up here for monthly subscription service were you will have access to legal services as and when you need it.

info@lenoma.co.za

http://www.lenoma.co.za

Cleaner, Simpler and Faster

In an effort to create better user experience for our clients. We have cleaned up your platform for you.

Documents are now easier to find and all have standardized pricing to suit your needs.

AS part of our after care, once you have accessed your documents and paid for it, you will receive 1 complimentary consultation with a lawyer to help you navigate through the details.

Do go grab yourself a legal documents here www.lenoma.co.za/shop

Go grab a copy try us out TODAY.

Team Lenoma Legal