SaaS Agreement with Formula 1
We helped our client put in place a SaaS agreement Formula 1 Management. Our client was a high-growth software start-up based in California.
SaaS Agreement with Formula 1 – Context and Challenge
The contract that it was using for its clients was based on US law and wasn’t tailored to deal with the kind of services that it wished to provide to a prestigious customer – Formula 1 Management. Our client needed the F1 contract drafting and agreeing asap in time for the next race meeting.
Process and Insight
As this was the first time we were working with this client we spent time at the outset understanding our client’s business – what their software did, how their customers used the software and how our client’s services were to be delivered. From this we were able to draft the SaaS Agreement properly and deal with risk in a way that wasn’t unnecessarily burdensome for our client’s customer while at the same time ensuring that the client was protected.
While a pure SaaS solution lay at the core of what our client was offering, the client also provided a widget and an app as part of its services. So the SaaS agreement had to be specifically tailored for them to cover all aspects of the service. We also felt that our client’s service level commitments needed modification to bring greater clarity around the service levels and description of services. By introducing greater clarity not only was the client protected but both parties would benefit from knowing exactly where they stood with each other.
In addition to the legal work we also suggested practical commercial solutions to the way in which our client would deliver the service which our client adopted.
We drafted the SaaS Agreement quickly and it was agreed by Formula 1 with no changes.
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