Newsletter – Free eBook: Making and managing model contracts

Weagree has reached two great milestones, which we want to celebrate by publishing a new free eBook: Making and managing model contracts.

1.  Drafting contracts has welcomed its 3,000th member
As you may know, we initiated the discussion group Drafting contracts on LinkedIn. In some five months, the group has evolved into an active community of over 3,000 members!

Legal professionals from around the world share their experiences on contract drafting. Have you ever wondered about some of the following?

  1. MOU’s, letters of intent and ‘pre-contracts’
  2. Penalty clauses (or liquidated damages): a global overview of local issues and particularities
  3. Which type of damages do you exclude in a contract? With contributions about the parameters of such clauses
  4. “Losses” vs. “damages”: several jurisdictions appear to treat them as entirely different concepts
  5. The use of plain English, or legal jargon
  6. Are you an ‘Andorian’? About writing and/or
  7. The tension between “notwithstanding” and “without prejudice”
  8. Another item triggering response: words and phrases you hate most
  9. Why is initialling pages desirable (or unnecessary)?
  10. Not unimportant: what happens after signing the agreement? Common errors and best practices

Understanding differences and similarities between national laws facilitates business and brings people together. Our community appears to be successful in creating such understanding in the area of contract drafting. This is something that makes me rejoice.

If you (or a colleague) have not joined the Drafting contracts group yet: click here (and on the LinkedIn page click “Join“).

2.  The Weagree Wizard has +10,000 users
The other milestone we reached a week ago: Weagree’s launching customer, ASML, replaced their NDA-tool with the Weagree Wizard: all employees and in-house subcontractors now create their NDA’s with the Weagree Wizard. This encompasses a group of about 12,000 users in all parts of the world. Obviously, share purchase agreements of 75 pages work equally well.

The launch went smoothly. An anecdote: a user, more acquainted with Chinese characters, filled in the field “short name” with the full address details of the counterparty (and skipped the neighbouring address fields). The Weagree Wizard is proving to be as user-friendly as we aimed for it to be.

For those who are interested: the Weagree Wizard is a true SAAS-solution (operating from our ISO-certified datacentre, with automated user identification (in jargon: ‘user-provisioning and authentication’)). It has an approval workflow (which can also be linked to external workflows) and it communicates with our customer’s e-mail server to alert about submitted requests or return the approved NDA (as PDF or Word-document).

3.  A new free Weagree eBook
To celebrate these milestones, Weagree has published a new eBook. Of course, the eBook is free. The topic of this eBook covers one of the key focuses of our LinkedIn group: Making and managing model contracts:

  • Ten steps to upgrading your model contracts
  • Contract drafting conventions (a sample)
  • Implementing contract assembly

The eBook gives practical suggestions, based on Weagree’s experience.

We hope you like the eBook. You can download it by clicking here.

If you have any suggestions, please let us know. If you want to share your thoughts or ideas, you’re welcome to do so in the LinkedIn group.