If you have already made some progress in exploring the market and have at least one interested partner in discussions, whether it is product distribution, manufacturing, joint development, or licensing, the first step is usually an MOU or “Heads of Terms” to frame the deal. Although an MOU is non-binding, it can be difficult to substantially change the terms later without jeopardizing the relationship with your partner, so it is important that an MOU represents the specific and realistic intentions of the parties.
Sometimes a Chinese partner will provide a brief and vague MOU – this leaves many big issues unresolved and may be storing problems for later. Or you may have some specific terms drafted, but you need to understand whether they are valid under Chinese law, or represent hidden risks. Before a deal is certain, you may not want to spend too much budget on legal support. This service is intended to give you a low-cost initial review before you and your proposed business partner get into more detailed negotiations.
You will receive legal advice on the proposed terms of a deal, including whether the deal terms are valid under Chinese law, and suggestions on how the terms may be reworded or restructured. You should provide any proposed terms (whether or not they have been drafted by you or your potential partner) as the basis of the review.
It is recommended to use this service alongside the BD & Sales services on Crayfish.io platform, particularly if you have already had meetings set up with target companies and a deal is under discussion. If you do not yet have any deal terms and would like some initial guidance, you may choose Legal and Strategy Clinic.
This service does NOT include:
If you have a Chinese translation already, the lawyers can address both the English and Chinese wording, but the review will be only in English if you do not have a Chinese translation yet.
You can click on “buy now” and proceed to the payment page. Crayfish.io will hold the payment until the project is done to your satisfaction before releasing it to the freelancer or agency who delivers your work minus our commission.
Once your payment is successful one of our pre-selected delivery partners will be in touch with you within one working day to start working and deliver the work back to you within the timeframe.
All services purchased on this platform are guaranteed by Crayfish.io. The service will be delivered according to the scope described, but if you are not happy with the quality of deliverables, you can let us know we will either help the project team improve work, or refund your payment. Please refer to 04.2 section in our Terms of Service for details.
This service is provided by qualified Chinese bilingual lawyers who specialize in commercial deals around technology transfer, joint ventures, joint development and other technology-related agreements. Following this service, you can engage the same lawyers on a project or hourly basis to help you with negotiations and conclude a deal.