What Should Entrepreneurs Look for in the Fine Print?
When scrutinizing the fine print, entrepreneurs should pay close attention to the following elements:
1. Termination Clauses: Understand under what conditions the contract can be terminated by either party. 2. Payment Terms: Look for hidden fees, interest rates, and penalties for late payments. 3. Dispute Resolution: Be aware of the methods prescribed for resolving disputes, such as arbitration or litigation. 4. Confidentiality Agreements: Ensure you are comfortable with the terms regarding the sharing and protection of sensitive information. 5. Liability and Indemnity: Know your liability limits and indemnity obligations.