You’ve had plenty of meetings, hashed out the details, and are finally happy with every part of your business deal. The question now is making sure that what you are about to sign and send off is as secure as it can possibly be. Sending paperwork, especially across the internet, can be a scary process, especially as there is the very possibility that something could go horribly wrong.
Thankfully for you, here is a written checklist of three items you should consult before getting into a deal, including maintaining a level of trust, encrypting your data and hiring a litigator. Read on for some key advice.
Make Sure You’re Dealing with Someone you Trust
The first thing to do before you enter into any kind of partnership or deal with another party is to make absolutely sure that they are the types of people you should be dealing with. We would recommend doing a whole host of research before you even start talking about any kind of deal.
The ways you can double-check this kind of thing is by checking their status with the relevant business regulator, reading reviews of the company online and by completing additional audits and checks. This is something that is definitely worth considering when you factor in that the cost from cybercrime each year is a whopping $445 billion.
Keep your Data Encrypted
Back in the day, most deals would be completed over pen and paper and finalized with a handshake. Times have changed. Nowadays, with most businesses going into international and virtual collaboration more so than ever, a lot of deals take place over the internet. This means your business should make sure that your data is safely protected from outside parties such as hackers when you are beaming documents across the web.
It’s worth leaving encryption and security to the professionals. For secure document sending and signing, you can use a virtual deal room courtesy of Secure Docs. They offer a streamlined process whether you are fundraising, completing a merger, raising IPOs or forming a strategic partnership.
Double Check the Paperwork Several Times with a Lawyer
Do you know what you are signing? Have you made sure that you are reading all the possible materials? It’s probably worth double-checking the paperwork several times. As a lot of documents are written in complex legal language, It’s recommend that you draft a lawyer in to really take a look at the paperwork and make sure that there are no hidden clauses that might come back to haunt you in a few years.
It may be a little costly to do this, but you don’t want to make a terrible mistake. There is one famous example of British people failing to read the terms and conditions when signing up to free Wi-Fi, which saw them accidentally sign up to 1,000 hours of community service. While this is a humorous example, the real-life ramifications of not reading the fine print can cost you a whole host of awful problems.
Sylvia Browder is CEO of Specialty Home Services LLC, a Home Improvement Company; a Small Business Consultant at Browder Consulting Group, a startup consultancy firm to help women with startup assistance, marketing, website and graphic design work and other support services. In addition, she has co-authored several published books; publisher of ‘Sylvia Browder’s Blog for Women Entrepreneurs’ a lifestyle blog; and publisher of ShopSpendBlack.com Business Directory & Blog platform created to help consumers find black owned businesses in a searchable format. In her spare time, she enjoys spending time with her husband of 30 years; 5 adult children and 5 grandchildren; church; friends and motorcycle riding.
