Contract Negotiations with Dina Segal

“As you’re starting your business, you’re going to come across so many interesting and sometimes real challenges, really exciting problems to solve, areas of compliance and requirements that probably seem daunting, and I would say really seek out resources, seek out mentors.”

— Dina Segal

Contracts will always be an essential part of a business. Whether it’s a business deal with your supplier or establishing a new agreement with your client, this piece of paper plays a vital role in protecting not only your business’s best interests but also the rights of the other party.

Writing down agreements and signing them may seem simple, but contracts are significantly more complex. They leave no stone unturned, explore every point thoroughly, and allow for no exceptions—except when both parties agreed to do so.

This episode will explore the ins and outs of the beginning of every business journey: the contracts. Beyond the lengthy paragraphs and complicated words, we will learn the factors to consider in contract negotiations, stress the importance of thoroughly reading the written word before signing, and discuss ways to ensure that your contract attracts only the best and the most suitable partners for your business.

Listen to learn:‌

How to classify workers
How organizations can help with your resources and mentoring needs
How to negotiate your contract well
Why it’s important to know your business core for contract negotiations
Why flexibility is essential in your contract
How to avoid ambiguity in contracts
Why attorney’s fees can’t be overlooked in business negotiations

Guest bio:

Dina is currently working at Gusto as the Chief Legal Officer. Prior to that, they held the position of Board Member and Co-President at SunLaw Group, a non-profit organization focused on empowering women in house counsel.

Overall, Dina Segal has a strong legal background with experience in various industries, including technology, finance, and non-profit. Dina has a proven track record of providing strategic legal advice and leading complex negotiations.

Highlights:‌ ‌

4:28: Services Third-Party companies can do for you

7:56: Contracting people from all around the world

10:21: Organizations that help in mentoring start-up businesses

12:28: Importance of contracting

14:50: Payment terms in contracts

16:49: A Business’ Liability Issues

19:01: Proper Process of Contract Termination

22:06: Importance of reading Terms and Conditions

22:58: Creating a form for your business

23:49: Attorney’s fees in Contract Provisions

24:03: Seeking Guidance and Mentors