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Written by a founder-side sales veteran, this walks the exact traps in a big-company paper: net 90-120 payment terms you should push down, IP ownership of derivative work so you can still build the same feature for the next client, disguised termination-for-convenience, most-favored-customer pricing clauses, and capping indemnity and liability (which he flags as the most contentious). It is the plain-English map of what to read first before a lawyer even opens the file.
Contract and Legal Traps to Avoid (Startup Founder Sales Series, Part 11)
From AWS Startups Blog by Mark Birch 12 min read
- Indemnification and liability caps are the most contentious clauses; never leave them uncapped
- Watch for termination-for-convenience hiding inside termination-for-cause language
- Nail down IP ownership of derivative work so you keep the right to build the same feature for other customers
