When starting a business, entrepreneurs tend to be very cautious about spending their money. With no money coming in, they want to keep their costs down as much as possible.
Most of them do try to take out an insurance policy against various risks to their businesses but a large swathe overlooks the necessity of handling their legal issues.
Since many correctly assume that getting an agreement written by a lawyer would cost them a lot of money, entrepreneurs appear to not bother with their legal issues at all.
Corner cutting of this sort ends up hurting them in the long run as UK businesses are far more likely to face legal issues than they are to be in a position to file an insurance claim.
Legislate is a Lawtech company that provides lawyer-reviewed agreements and contracts. Users can protect their businesses and themselves against any future disputes by using these lawyer-reviewed contracts as a foundation of their engagements with third parties.
The platform gives you the option to add all parties on the contract whereby they can e-sign them rather than printing them out first. Along with the ease that comes with managing all of your legal contracts from a single portal, users can automatically track and query the data in their contracts to answer key questions which affect their business. For example, employers can quickly filter their agreements to determine employees hired over a certain period of time with shorter notice periods.
With Legislate, entrepreneurs have the option of creating lawyer-approved contracts which protect their business for a fraction of the cost of traditional law firms. On top of financial savings, selecting a document from Legislate’s online library and filling it out on your laptop from the comfort of your home or office, helps save time as well whilst offering a better user experience.
Legislate’s contracts are flexible enough to be tailored to specific situations which means that users don’t need to worry about adding or removing clauses into agreements. Moreover, the tailoring of agreements is done using a knowledge graph which ensures that the terms are assembled together in a robust and legally consistent way.
With historic inflation, the cost of legal services has been going up consistently and is now at a point where the attitudes of British entrepreneurs show an inherent reluctance to use them. In such a scenario, Lawtech companies like Legislate are playing a vital role in helping UK businesses stand on solid legal footing.