Newsletter Pro - October 2022

The Startup Disrupting Contract Law Agree to E-gree

Inside

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Why It’s Actually Smart to Change Your Mind How to Disrupt an Industry and Make a Positive Impact 4 Ways Every Employee Can Contribute to Company Culture How Marketing Leaders Can Drive Value Chipotle Burritos and the Rise of the Metaverse E-gree Brings Contract Law to the Masses

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The other people entering into the agreement can read through the contract and e-sign it in the app. Best of all, every contract is saved and accessible to all parties at any time.

Celebrities and multimillion-dollar corporations have contract lawyers on standby. But the rest of us usually rely on handshake deals and our flimsy understanding of standard-issue fine print. In 2020, the startup app E-gree was launched in an effort to change that. It aims to make contract law accessible to everyone — not just those who can afford a lawyer. The first seeds of E-gree were planted when attorney Keith Fraser represented entrepreneur Araz Mamet. In an interview with Startup Savant, Fraser explained, “[We] both witnessed and experienced the inequalities inherent in the legal justice system as well as the outdated, archaic manner in which the legal system operated.” Rather than shrugging their shoulders and moving on, they teamed up with an additional entrepreneur, Ilya Flaks, and secured funding from model, philanthropist, and investor Jessica Kahawaty. The E-gree contract model is simple. Users download the app, select a contract template, and adjust a few personal details. The contracts are written in straightforward language so everyday users can understand them.

When E-gree first launched, the company primarily touted its use as ideal for friendly wagers and small business ventures. The offerings have since expanded considerably. There are currently 25 E-gree contract templates, with more on the way. Contracts under the “business heading” include agreements about freelance work, venue usage, handyman projects, and non-disclosure agreements. More personal affairs are covered by rental and loan agreements, purchase contracts, and minor automobile accident settlements. Some options are lighthearted (though still legally binding), like the one you can create for your child’s allowance. Others are no laughing matter, like the option to complete end-of- life directives and prenuptial agreements. “We aim to disrupt the legal industry by essentially privatizing it,” Fraser explains. “The current legal systems are rooted in notions of venue, standing, jurisdiction, precedent. All of these are inconsistent with the way people are now connected and how they transact and interact.” He acknowledges that E-gree isn’t the only legal tech company in business but believes it stands out from the pack in one crucial way. “Most legal tech companies focus on providing services that improve the ability of people to access and/or use the current legal system. We aim to change the legal system and essentially create a new one that operates within a social network all contained within E-gree.” That’s a tall order, but since its inception two years ago, users have created roughly 50,000 legally binding contracts. Better yet, they’ve done it for a sum virtually anyone can afford. The first three contracts are free, and additional agreements only cost 99 cents each. Heavy users can sign up for monthly and annual subscriptions — and even have trees planted in their honor as a thank-you. In 2021, investor Kahawaty told Vogue Arabia, “Traditional legal avenues … are expensive, intimidating, and an inaccessible avenue to the majority of the population.” That leaves most people who need a contract feeling like they’re out of luck. But E-gree is on its way to leveling the playing field one signature at a time.

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