Client
Our client, Lending Technologies Inc (“Lendsqr”) is a leading fintech company providing an advanced loan management system tailored for smart lenders. Their end-to-end loan management software streamlines lending processes and offers innovative solutions for managing loans efficiently, catering to a diverse range of financial institutions. It also enables them to offer support to their clients throughout the entire lending lifecycle.
Problem
As Lendsqr expanded its operations and client base, they required comprehensive legal documentation to govern their relationships with various stakeholders, including clients, contractors, and partners. These documents needed to clearly define the terms of their services, protect intellectual property, manage data security, and ensure compliance with industry standards. They sought our legal expertise to advise on the necessary agreements and ensure that each contract was robust, enforceable, and aligned with their business goals.
Approach
We worked closely with the client to identify their specific needs and prepare a suite of documents essential for their engagements. Our approach included:\
- Document Preparation and Review: We prepared and reviewed the documents tailored to each specific engagement. An inexhaustive list includes:
- Non-disclosure Agreement (NDA): To safeguard proprietary information shared during negotiations and partnerships, ensuring confidentiality between Lendsqr and its clients or partners.
- Software Development Agreement: Outlining the scope of software development services, ownership of intellectual property, and timelines for delivery.
- Service Level Agreement (SLA): Establishing the expected levels of service, response times, and performance metrics for Lendsqr’s loan management system.
- Supplemental Agreement: For amendments or additions to existing agreements, ensuring flexibility while maintaining legal compliance.
- Independent Contractor Agreement: Governing relationships with freelancers or third-party contractors providing services to Lendsqr.
- Collaboration Agreement: Detailing the terms of collaboration with other businesses or entities to enhance service offerings or share resources.
- Enterprise Partner Master Service Agreement: A master agreement governing engagements with large enterprise clients, covering licensing, services, and responsibilities.
- Digital Lending Application System Agreement: Specifically tailored to govern the licensing and deployment of Lendsqr’s core loan management system.
- Memorandum of Understanding (MOU): Documenting preliminary understandings and intent to cooperate before entering binding agreements.
- White label Agreement: Allowing third-party partners to rebrand and market Lendsqr’s loan management system under their brand while maintaining operational control.
- Software as a Service (SaaS) Agreement: Detailing terms for providing Lendsqr’s platform as a cloud-based service, including uptime guarantees, data protection, and customer responsibilities.
- Reseller Agreement: Enabling third parties to resell Lendsqr’s loan management system in different international jurisdictions, setting terms for resale rights, responsibilities, and compensation.
- Company Policies: We drafted internal policies on data privacy, cybersecurity, and intellectual property protection to ensure that Lendsqr maintained compliance with industry regulations and mitigated potential risks.
- ESOP (Employee Stock Ownership Plan) Documents: Prepared ESOP documentation to help Lendsqr structure its equity incentive program for employees, allowing for employee retention and aligning long-term goals.
- Referral Agreements: Structured agreements outlining the terms for referrals between Lendsqr and third-party businesses, including compensation and responsibilities.
- Customization for Client Needs: Each document was tailored to reflect the specific operational needs of Lendsqr ensuring compliance with relevant laws and industry standards. We provided guidance on contract management and risk mitigation to protect the company’s intellectual property and limit liability.
- Consultation and Execution: We worked closely with the client’s business team, explaining the purpose of each document and the protections it provided. We supported the execution process, ensuring the agreements were properly implemented and maintained.
Result
With this comprehensive set of agreements in place, Lendsqr was fully equipped to engage with clients, partners, and contractors securely and efficiently. The legal framework provided clear terms and protections for their services, fostering stronger client relationships while minimizing legal risk. As a result, Lendsqr was able to confidently scale its operations and expand its business, knowing that its interests were legally safeguarded.
Acelera Law has been a key legal partner, integral to our business growth. Their professionalism, dedication, and customer-focused approach have made them a pleasure to work with. We highly recommend them without hesitation.
- Grace Effiom, Head of Enterprise at Lendsqr
