Navigating Contract Law For Startups - Key Considerations

Introduction

Our first virtual hello ('our' meaning you, the reader of this insight, and I, the author) is attributable to the fact that nearly a decade ago, the startup culture we know today was in its infancy—it was quite literally a STARTUP. This EUREKA moment was initially due to the engineers realising that stable income bores them, and thereafter, the volatile world of business became their new calling. With the sound of drumrolls (& teams call(s), of course), you entered the startup multiverse with (or without) money, business knowledge and sheer determination to become a unicorn.

However, like all others, you were caught unaware of the law, only to find that almost the whole commercial ecosystem is not run on a code but through 'codes'. In the dynamic commercial ecosystem, an intimidating alternative to the phrase 'world of business', startups ought to engage in definitive agreements with various stakeholders. Such agreements are, in most