The software development industry is broad, with different softwares being able to help with almost every aspect of running a business. However, in order for software companies to provide competent services, different documents are required. Using data from our 130,000+ customers, we’ll outline the documents most often used in the software development industry.
1. Privacy Policy
A Privacy Policy states what information your website will collect from users, and also outlines how that information will be used. This includes who the information will be passed on to and whether the information will be sent overseas. A Privacy Policy also includes clauses setting out the security and storage of personal information and whether your website uses cookies and/or supports third party sites. Further, many online providers such as Google and Facebook require businesses to have a Privacy Policy in order to use their services.
2. Contractor Agreement (Individual)
A Contractor Agreement is an agreement between a business and an independent contractor. This Agreement allows the business to hire the independent contractor (they can also be a freelancer or a consultant) to perform work for the business. This Agreement includes terms relating to:
- The services to be performed
- Payment and expenses
- Confidentiality
- Termination
- Intellectual property
It’s also important to remember here that a contractor is not an employee, and do not have the same entitlements to leave and superannuation that employees do.
3. Non-Disclosure Agreement (One Way)
This type of NDA only applies to the person or business you issue it to. In a Non-Disclosure Agreement (One Way), the business discloses the information to another party and the party that receives the information agrees not to disclose the information.
4. Shareholders Agreement
A Shareholders Agreement is a contract which is signed by all the shareholders of a company. A Shareholders Agreement usually covers the following:
- Names of the shareholders
- The board of directors and also what each director’s role entails
- Limitations on each director’s control and authority
- The process to follow in certain situations
- What happens if a shareholder decides to leave or there is a dispute
- What happens to shares in the event that shareholders leave
5. SaaS Agreement (Software as a Service)
The model for how software is provided has changed over the past few years. Although Software is often supplied through licencing agreements, many businesses in the software development industry now sell their software on a subscription basis. This Agreement sets out the terms of using software including:
- Restrictions and Responsibilities
- Payment of Fees
- IP rights
- General Terms
- Statement of Work
- Termination
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Get started6. Website Terms and Conditions of Use (Services)
A Website Terms and Conditions of Use (Services) document outlines your business’s terms and conditions, in addition to terms for the use of your website. Your terms and conditions will cover delivery, payment also and your returns policy, whilst your terms of use will explain to visitors to your website what conduct is and is not acceptable on your site.
7. Term Sheet – Seed Investment
A Term Sheet is a crucial document during the capital raising process. This document sets out the terms of a seed investment round including:
- Financing terms
- Capitalisation
Further, many of these terms will go on to form part of a Shareholders Agreement once the final terms have been agreed on.
8. Website Terms and Conditions (SAAS)
Similar to a Website Terms and Conditions of Use (Services), this document outlines the terms for visitors using your business’s website. However, this version is specifically for businesses which provide SaaS. This document covers user obligations and appropriate use conditions, IP protection and limited liability.
9. Advisory Board Member Agreement
Running a business involves a lot of decision-making, however engaging an advisor can help you make more informed decisions. An Advisory Board Member Agreement includes terms relating to the services to be provided, the advisor fee and also the hours of service expected.
10. Co-Founder Agreement
Many business owners start their business with a friend or business partner. When this is the case, it’s a good idea to use a Co-Founder Agreement to set out the terms of ownership, investments and responsibilities of each person. Using this document can lower the risk that there is a dispute later on if the business is sold or one Co-Founder leaves.
