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Should I have a lawyer go over a Heads of Agreement?

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mgrowan

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I've got a Heads of Agreement I am working on with a new partner. They will license my software for use. Should I get a lawyer to draft a more rigorous contract that will take time and money to do, or just go for it with the terms we have drafted?

I host and run the software as a Saas product and can see all usage, so I maintain control, so I don't see much risk if the partner doesn't pay or breaches the terms.
 

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I've got a Heads of Agreement I am working on with a new partner. They will license my software for use. Should I get a lawyer to draft a more rigorous contract that will take time and money to do, or just go for it with the terms we have drafted?

I host and run the software as a Saas product and can see all usage, so I maintain control, so I don't see much risk if the partner doesn't pay or breaches the terms.

That agreement is not legally binding. It is literally worthless.
 

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Can I put together a Memorandum of Understanding or something else? Can I make it legally binding without a lawyer?

MOU is essentially the same thing with no legal weight either.
 

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