Business · 7 min read · Published September 2026
Business contract review: a founder’s checklist
The contract terms to check for scope, payment, delivery, ownership, liability, renewal, termination, and dispute handling.
Short answer
A useful business-contract review asks what each party must deliver, when payment is due, who owns the work, what happens when something goes wrong, and how the relationship ends. Read the schedules, policies, online terms, and incorporated documents—not only the signature page.
What should the contract make clear?
Commercial disputes often begin with an unclear scope or a mismatch between the main agreement and a proposal. Put the deliverables, milestones, acceptance criteria, and change process in a document both parties can identify.
- Parties and signing authority
- Deliverables, timing, acceptance, and change orders
- Price, taxes, invoices, late payment, and expenses
- Ownership, licence rights, confidentiality, and data handling
How should risk be allocated?
Look for warranties, indemnities, liability caps, insurance, force majeure, governing law, dispute process, renewal, and termination. A clause can be reasonable in one deal and unacceptable in another.
- What loss is excluded or capped?
- What happens after termination to data and work product?
- Can either party assign the agreement?
- Which promises survive the end of the contract?
Common questions
Can an email be a contract?
An email exchange can contribute to a contract analysis, but whether it creates binding obligations depends on the facts, wording, authority, and surrounding documents.
Should I use an online contract template?
A template can help identify topics but may not fit your industry, province, risk, or negotiation. Treat it as a starting document, not a completed legal review.
Official sources to check
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