Let me share with you a game-changer we discovered for handling the legal documents in our business—Lawpath. It's an effective solution for saving both money and time when creating most of the general business legal agreements you need.
If you’re like us, deeply involved in your business and focused on getting things done, you understand the headache that legal documents and protections can cause. Well, Lawpath completely turned that around for us, and here's why it might do the same for you.
The Legal Maze We Found Ourselves In
When we started our business, the legal side was daunting. We dealt with contracts, agreements, and more—things that felt like they required a law degree to understand. It wasn't just about drafting these documents; we constantly worried that missing a detail could cause big problems later on. With each new project, it felt like we were taking a gamble, hoping we hadn’t missed anything important.
We've been involved in legal disputes before and one of the main points our lawyers always tell us is to "read the document" and let them review the document before signing.
That Lightbulb Moment with Lawpath
Enter Lawpath. We discovered Lawpath while searching for free legal templates. The irony of this statement is not lost on me, I can assure you. Free and legal and "quality free legal" are certainly phrases not often used together in a sentence. Lawpath is an online repository packed with all the legal document templates and guidance you could need, tailored for Aussie businesses, including those in construction.
From my experiences, I can tell you that all lawyers use templates; they just adjust them as needed for your individual requirements. It might seem contradictory in the context of DIY legal templates, but Lawpath offers more than just templates.
If you need something more tailored, simply provide a brief through the Lawpath website and request a quote for creating or modifying an agreement. For instance, I previously had a lawyer draft a shareholders' agreement, share subscription agreement, and a term sheet in 2012. Although the agreement was satisfactory, it required slight adjustments for a new business where shareholders wouldn't pay upfront for their shares. Instead of vesting shares, we opted to grant new shareholders the right to acquire a specific number of shares. As they contributed capital to the company over time, they received their shares until their allocation was fulfilled. This variation from our standard agreement posed no issue for Lawpath.
Just upload your agreement through their website, provide context, a brief, then Lawlab will connect you with one of their partners who provides you with a time and cost quote to carry out your brief/scope of works.
Normally you would do this with your lawyer over a series of phone calls and emails, or with commenting/suggesting turned on in your word processor and track/approve changes to finalise.
In my experience, getting any document created with a lawyer outside Lawpath is a minimum 4-6 week process and typically costs $1800 to $2500 to get done.
So how have we used Lawpath so far?
Cutting Through Contract Confusion
First, we dealt with the contracts. Lawpath provided customised templates that we could adjust to suit our needs, whether for a new partnership or a project contract. It was a relief knowing we could handle this ourselves without having to spend a fortune on a lawyer each time.
Protecting Our Hard Work
Then there's the matter of keeping our ideas and projects safe. With Lawpath, we quickly created NDAs whenever we needed to share information with someone new, ensuring our secrets remained confidential. And Lawpath provided straightforward copyright and IP agreement templates for protecting our designs and innovations.
Growing Our Team the Right Way
As our business grew, so did our team, and with that came a whole new set of legal needs. Lawpath made adding new team members smooth sailing, with all the compliance and paperwork sorted out in a few clicks. No more headaches about whether we were doing it right.
The Equipment Leasing Lifesaver
Equipment leasing used to be a hassle, ensuring everything was legitimate. With Lawpath, we accessed clear lease agreement templates that covered all aspects, ensuring both parties understood clearly..
Whats also great about Lawpath
They offer a built-in document signing solution. Once you create your agreement, you can send it to your recipient for signing and return, with tracking and auditing included. No more issues like "I didn't get that email, please resend." Major email providers have tightened up DKIM and SPF since February 2024, making email deliverability a significant challenge for many businesses. Instead of relying on your DNS records, ensure your legal agreements get delivered every time by using Lawpath.
It also simplifies the process of finding every agreement when you know they are all in one place, rather than sorting through numerous Google Drive folders and having to search for them every time.
The Bottom Line
Switching to Lawpath changed the game for us. No more legal nightmares, no more crossing our fingers and hoping we didn’t miss something. It gave us the confidence to focus on what we do best—building and constructing—knowing all the legal ground was covered.
FAQs Quickfire
- Good for any size biz? Yep, from one-man bands to growing enterprises.
- Easy for non-lawyers? Absolutely, it’s all laid out in plain English.
- Can it replace a lawyer? For the most part, yes, though there might be times you need a bit more specialized advice.
- What sets it apart? Affordability, ease of use, and it’s all tailored for Aussies, including us in the construction industry.
Your Next Move
If any of this hits home for you, then giving Lawpath a look could be a smart move. It’s made a huge difference for us, simplifying the legal side of running a construction business so we can focus on the building part. Check it out through the link below, and see for yourself how it could make your life a bit easier, too.
