Running a Software-as-a-Service (SaaS) company requires a continuous understanding of laws, regulations, legal precedence, and industry standards – because they’re changing all the time.
Time is the issue here, as C-level executives and the Product team have enough to think about between strategy and development. This is where a Product Counsel comes in. So, what does a Product Counsel do for a SaaS company?
From the start, Product Counsel assists with:
- Understanding what laws and regulations apply to the products the SaaS company is building.
- Review of initial product release for compliance with applicable laws and regulations.
- Drafting and editing appropriate Sales agreements, terms, policies and procedures around product.
- Ensuring appropriate terms and disclosures are in place with the product.
- Ensuring data is appropriately protected within the products.
On an ongoing basis, Product Counsel assists with:
- Assessing product updates and features for legal compliance.
- Understand legal implications of how Data is being handled.
- Assisting sales and marketing department for compliant campaigns.
- Assessing new products for legal issues before release.
- Staying updated on latest policies, regulations, and litigation in the Software world.
- Assisting with due diligence reporting during fundraising rounds and acquisition talks.
Let us Help
This post is providing a high level overview of what a Product Counsel does, and is not to be taken as comprehensive job description.
There are many more nuances and specifics, and you should have an experienced attorney acting as your Product Counsel.
Kader Law can help act as your Outside Product Counsel. If you’re interested, feel free to contact us.
This post is not legal advice, and does not establish any attorney client privilege between Law Office of K.S. Kader, PLLC and you, the reader;