Across
- 3. Code Escrow- nder which a customer can access product source code
- 5. of First Refusal (ROFR)- allows a customer to acquire the company if they make the same offer.
- 11. Customers may hesitate on these clauses because they view them as additional work and don’t want to expose what software they use to the rest of the world.
- 13. process by which parties that may have otherwise gone to court instead go to a third-party neutral judge who decides on the outcome.
- 14. for Convenience- The termination of convenience clause allows them to do this. Like source code escrow and most favored customer clauses, it’s another one startups should avoid, if possible.
- 15. Terms-what your customer should expect from your support team and what happens if they don’t meet those expectations.
Down
- 1. establish boundaries around what the customer gets
- 2. Favored Customer- guarantees the customer the best price the vendor gives to anyone. Apple, for example, is known to require this from vendors.
- 4. and Payment Milestones- Some sales contracts have clauses so that you don’t get paid unless you meet certain roll-out or milestone requirements.
- 6. provide an insurance policy for your customer in the event that they are sued for something related to their use of your product
- 7. and remedy clauses - what your product will do and how it will work
- 8. of Liability- set a cap on how much you, as the vendor, can be sued for.
- 9. term- defines the length of the contract
- 10. Provisions- Many startups are eventually acquired. If you are acquired, what does it mean for your customers? Assignment provisions set out in advance what happens to a sales contract if you are acquired.
- 12. Use- is the foundation of strategic analytic capabilities.