"Success Fees" - how do I ensure payout by an acquiring company?

Hey there, I trust that your CRM is robust enough to trigger some workflows and automated steps. I would recommend you have an automated series of reminders to both your customer AND their respective relationship manager that fire as the client approaches their end of contract. To your internal staff, getting notified that a customer is opening/clicking on resources included in their reminder emails would be recommended, or if a client has NOT taken any action, to notify more than one member of your staff to ensure that these folks are not falling between the cracks. Additionally, monitoring and being notified of actions of the client, such as visiting your FAQ page or pricing page on your website provides helpful context for your sales team when reaching out. Again, I think it is just as important to nurture the client as they approach this date, they should really be able to see the value of working with you and make the decision to continue their partnership with you regardless of the contract. I'd love to help you more with this, let's set up a call if you have specific questions. All the best, -Shaun

Hey! If you are US-based the cheaper and faster option is to use a service like clerky.com, they provide little to none customization but it's good enough for anything before a series A. After that I strongly suggest to use an international law firm, I've had good experiences with Bird&Bird and Orrick

Hey there - it would be helpful to learn a little more about the specifics you are looking for. But, as I understand it, you are wanting to contact those who have booked time with you before and request a review? Depending on how long it has been (thus the "depth" of the relationship), you can message them here on Clarity. If you have the time and desire, you can also seek them out on LinkedIn and connect with them there to request a review. I hope this helps! Keep in mind - your goal should be to always strengthen the relationship mutually, not seek them out (or stalk them) for your own benefit. All the best, -Shaun

Here's what I don't see so far: executive (buyer) INVOLVEMENT by your target customers. Go to them. Show them what you've got. Get the testimonials from your employee-level advisors to show them the need is legit. (Use these same employees to start going up the chain and finding out who are the decision makers you need to talk to.) Find out if they are interested. If they are, say that you want their help with compliance issues (they already employ highly experienced experts in this department, believe me; and you can leverage this). In return you'll give them a deal in licensing the use of the software. I want you to understand something: User Adoption is key here. Right now, you have nothing. But get ONE user, one client, one recognizable name in your target market using the software, and now you have something. So be prepared to basically give that initial license away--at least for the first year--if you must. That's your Best Alternative To A Negotiated Agreement (time for you to read up on negotiation, I think). Because after that, you can go to the next whale and say, "Yeah, ABC Oil is using our product and they sure like it." If Customer #1 wants a guarantee of exclusivity, like this software is going to give the user a competitive advantage, then guess what, the price goes up. You cannot protect your idea from being stolen. So quit worrying about that (if you are.) Frankly, most firms and their staff are too darn busy with their own daily firefighting and are only too happy to outsource something like this to someone they can delegate out to. If you want further detailed strategy help like this, wording for conversations, and more, book a call.

Disclaimer: I am not a lawyer nor an accountant, and this is not "professional advice." I have, however, set up a few businesses and had partners. What you need to do is incorporate and then write up an Operating Agreement that lays out the terms of your partnership. Who owns what. How the new partner will "buy into" the organization with their sweat equity. What happens when revenue targets are reached. And how exactly you separate when it's time to move on. Lay these details out and more in your operating agreement. You'll be so happy you did, later. When you incorporate, you may do this on your own...or you may want an attorney or accountant to help. They will know how to set up an operating agreement, but now that you know the term it's likely you can google a template. There'll be a lot of technical mumbo jumbo in there you probably won't need, but the section headers will guide you in the right direction.