SaaS Contracts, Software Licensing & Technology Agreements Lawyer Andrew S Bosin LLC helps SaaS, Software, Blockchain, Cloud, Internet and Mobile App startups, entrepreneurs, vendors, providers, licensees, end-users, resellers, customers and enterprise companies draft and negotiate just about every type of SaaS, Mobile App, Technology, Internet, Website, Software & Blockchain Contract and Licensing Agreement.
Andrew represents startups and entrepreneurs all across the USA in all fifty states. Andrew helps companies think about and work through issues such as using SaaS Subscription Agreements v. Software Licensing Agreements, why recurring income is so important to growing SaaS companies, how to measure KPI’s, metrics and related sales data to increase a customer base, why purchasing general liability and errors and omissions insurance is so critical to protecting assets and the importance of implementing data security measures and protocols.
Andrew has helped well over 100 SaaS, Technology, Software, Blockchain, Mobile App and Cloud startups and companies both large and small. Andrew is also an entrepreneur who built and scaled a SaaS startup with partners that was issued a patent in 2017. Needless to say, Andrew understands from his own startup experiences how to take an idea drawn on a piece of paper, raise capital, oversee the development of a SaaS application and close deals to monetize on his company’s platform. This experience that Andrew draws upon in guiding SaaS companies is so priceless and something that most other lawyers simply cannot offer to their clients.
Andrew helps clients understand in Plain English the legal meaning of SaaS, Software, Mobile App, Cloud and Technology contracts and licensing agreements so they can make smart and objective business and legal decisions about their contractual duties, rights and obligations when entering into such agreements.
Andrew advises clients on deals in the areas of healthcare technology, Health Tech, SaaS Applications, Big Data, IoT Wireless Embedded Connected Devices, Cloud Managed IT Services, Artificial Intelligence, Data Security, Manufacturing, Retail, Wearables, Fitness, Hotels, Social Media, Energy, Workforce Management HR and Payment Systems.
Andrew also provides experienced startup legal advice and services to SaaS, software and cloud companies who incorporate in Delaware as C Corporations. Andrew drafts bylaws, board resolutions, action of sole incorporator in lieu of first meeting, Founders’ Restricted Stock Agreements, NDA’s and Investor agreements including SAFEs, Promissory Notes and Investor Term Sheets. Andrew also provides legal advice on closing capital financing rounds.
Clients also seek Andrew’s legal advice about how to protect their intellectual property, confidential information, trade secrets and source code when entering into agreements with companies who subscribe to or license their applications, products, services, solutions and platforms. Andrew drafts agreements that protect his clients’ IP interests without killing the deal. One of the issues that Andrew tries to solve for clients is that SaaS customers will typically have third parties log on to the subscription service so Andrew puts language in SaaS vendor agreements that customers are required to indemnify and hold harmless the vendor for third parties’ use of the Subscription Service.
Andrew also offers counseling and advice to early stage SaaS startups about how to market and sell their products to enterprise customers. Early stage companies unless they have founders with extensive sales backgrounds are typically not prepared to sell SaaS software to large scale enterprise companies. It’s not as easy as sending an email or making a LinkedIn connection or picking up the phone and calling what you believe to be is the right person at the enterprise company. Please read Andrew’s article on tips for selling SaaS software to enterprise customers. https://www.njbusiness-attorney.com/successful-saas-b2b-sales-negotiation-strategies
One of the biggest problems facing SaaS startups even after their product is built and they have a good understanding of the marketplace is how to find the right executives to reach out to and pitch about their product. SaaS startups need to have a very narrow focus to determine who their exact customers are, how to identify the decision makers in such companies and how to market and sell their SaaS products to these individuals. Chances are a SaaS company just dipping its toes in the SaaS enterprise sales and marketing processes will likely send out thousands of emails to prospective customers. To even think about having any success at selling to the enterprise a SaaS company needs to give serious thought to automated sales and marketing software.
Andrew also provides legal advice to clients about the need to obtain a sufficient amount of insurance to protect company assets. Most startups don’t have enough funding to survive six months let alone have enough to purchase commercial liability insurance. Because of his own SaaS company experiences Andrew is very transparent with his clients and tells them what he learned that no enterprise SaaS customer will even consider signing a SaaS vendor agreement unless the vendor has purchased a sufficient amount of insurance.
One of the issues that Andrew helps startups with early on in the process shortly after incorporation is how much stock should the startup issue to founders and if any of the stock should vest over time. Andrew advises his startup clients that the worst possible move that they can make if they ever want to raise money from smart investors is to drain all of the company’s stock by issuing it to the founders in the first round. By doing so, a serious investor will not want to deal with what they will perceive to be an amateurish group of entrepreneurs. By issuing all of the stock to the founders shortly after incorporation it means that to bring on key hires or attract investors the startup will have to issue additional stock and everyone will get diluted.
Other huge mistakes that startups make time and time again is failing to require that the founders sign restricted stock agreements and not requiring that the founders’ stock vest over time. Again, these types of actions will prohibit any startup from attracting smart investment monies. Why is that? Investors want to see that the founders’ stock is restricted in that the bulk of the stock vests over time with the company retaining most of the stock in escrow. A good benchmark is that a founder’s stock should take no less than three years to fully vest from when the initial stock is issued. The main reason for vesting is that the investor does not want to see a situation where they have put money into a startup only to see one or two founders walk away in the first year with half of the startup’s equity. By having their stock vest over time the founders have skin in the game and this will hopefully prevent them from leaving the company.
Startups also seek Andrew’s advice about how to best position themselves to attract capital funding. One of the moves is to make sure that the founders’ stock vests over time. And, not to issue all of the stock in the first round to the founders. Investors want to provide capital to smart entrepreneurs who have vision and have taken the time to draft well thought out sales decks and financials which should include projections over a two year period so investors can see what the startup believes its costs, expenses, capital expenditures and revenues will be over the next twenty four months. Investors will also want to see how the investment monies or “use of proceeds” are going to be allocated by the startup. If a startup is going to use the money for huge salaries and lavish offices you are going to offend most investors by doing so.
For your convenience, Andrew provides access via his cell phone. Because of his entrepreneurial experiences Andrew understands just how important it is to speak or communicate with clients when it is convenient for them whether that is at 9 pm on a Wednesday night or on a Sunday afternoon.
And, by charging flat rate fixed legal fees Andrew alleviates the certainty as to the exact amount clients will pay in fees for each legal project.
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Please call Andrew for a free initial legal consultation at 201-446-9643.