Indemnification Clause for Social Network?
I am starting a new social network that is geared toward a specific niche market. In my endeavor I will need the support and backing (not monetarily) of several industry leading manufacturers. At the moment, I am preparing my business plan and package and would like to hear opinions on indemnification clauses. Should I have one prepared? Should I present the clause at every meeting with an established entity? Should I wait until they ask, if they ask, before preparing one? Does any body have one I could look at and/or possibly take some of the language from?
Thank you
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I dont understand why would would need a clause like this but dont fully understand your concept. In any case, the best thing to do is to have it drafted and part of your policies. I wouldn't necessarily point to it at any time, but if it comes up with a manufacturer or investor then you look prepared and tell them its already in place. – Frank 14 years ago
1 Answer
That should be a part of your Terms of Service or Terms of Use.
It will be good, if you have prepared one. Just sniff around at the big social media sites and their terms of use. You might find what you need at their websites. And best of all is, you normally could be sure that they have had a lawyer looking over it. So you will be a bit more secure.
However, you will need to check with a lawyer yourself, before you go into business, to be sure that your terms are good.
Hope this helps.
