In previous articles, we have discussed how ChatGPT is an exciting tool with vast potential for startups, especially for those in their early stages. Its capabilities make it a valuable growth hacking resource, enabling engagement with customers, task automation, driving business expansion, and so much more.
Throughout our series, we have also shared how to refine your marketing and communication efforts. The interest you’ve shown has encouraged us to extend this series with additional prompts. As we pondered on relevant subjects, the answer became apparent: Who among us hasn’t experienced the sensation of being overwhelmed by a deluge of paperwork and perplexing legal jargon?
This article will present you with some useful prompts in ChatGPT, allowing you to navigate and simplify your interactions with bureaucratic papers. Remember some of these documents are legally binding, we recommend always consulting with professionals to ensure that they comply with the relevant country laws and accurately reflect your intentions.
Introduce yourself
Remember to begin by introducing yourself every time you open a new chat. No need for formalities or ice-breaking, share information about your business and outline your objectives. Remember the more information you provide, the better results you’ll get back.
Hello ChatGPT, Before you start writing, let me introduce myself. My name is [Add your name] I am the [Your role in the company] at [Name of the company] we are a company dedicated to [Add full description].
1. Offer letter
An Offer Letter is a formal document used to extend a job offer to a candidate and typically includes basic details of the offer, such as the job title, salary, start date, and work location. Very similar to an employment contract but usually without a legally binding contract. To create one on ChatGPT simply prepare a list of all the information you want to include: job title, salary, start date, and work location add everything you find relevant for this first employment attempt, and add it on the platform like this…
I need you to create an employment offer letter with the following information [paste list here].
2. Code of conduct for your startup
The Code of Conduct provides a clear outline of expected behaviour, and instructions on what is and isn’t considered good practices by the company This includes behaviour in the workplace, work-related events or any time they’ll be representing your business.
Make a list outlining your expectations for employee conduct and behaviour. Clearly define how you anticipate them to behave, including both acceptable and unacceptable actions. Remember to be as specific as you can
Copy and paste the following: I need your assistance in developing my startup’s code of conduct. Please refer to the list I’ve provided [add list] to gain a clear understanding of my requirements.
3. Refund policy
This policy is an essential aspect of customer service, ensuring a fair and transparent process, usually including timeframes, conditions, product eligibility, proof of purchase, process, shipping, extra fees, etc. This extensive document might be really time-consuming to create without some help.
Copy and paste the following text and add the information from the list: I need your assistance to create my startup’s refund policies here’re all the details:
- Time frame: A typical refund policy includes a specific timeframe within which customers can request a refund. This timeframe can vary, ranging from a few days to several months after the purchase date.
- Conditions for Returns: Outline the conditions under which customers are eligible for returns, such as defective products, wrong items shipped, or dissatisfaction with the product.
- Product Eligibility: The return policy may identify specific products that are eligible or ineligible for returns, such as personalized items, perishable goods, or digital downloads.
- Proof of Purchase: Customers need to provide proof of purchase, such as receipts or order numbers, to initiate a Return or refund request: step-by-step process customers need to follow to return products, including contacting customer support and providing necessary information.
- Refund Options: Provide details about the possible options they have such as a full refund, partial refund, store credit, exchanges
- Return Shipping: Clarify who bears the responsibility for return shipping costs, whether it’s the customer or the business.
- Communication Channels: Provide information on how customers can reach out to customer support for assistance with returns or refunds.
By providing this information, ChatGPT can create a tailored and customer-friendly refund policy for your startup
4. Shareholder Agreements
ChatGPT can help you enhance or create a comprehensive and legally binding Shareholder Agreement tailored to your startup’s specific needs and circumstances. Make a list with the following information:
- Shareholder Details: The full names, contact information, and shareholdings of all the shareholders involved in the agreement.
- Share Ownership: Specify the number of shares each shareholder owns and the percentage of ownership for each.
- Voting Rights: Define the voting rights of each shareholder based on their share ownership and any special voting arrangements.
- Roles and Responsibilities: Outline the roles and responsibilities of each shareholder in the company’s management and decision-making processes.
- Dividends and Distributions: Detail how dividends and profits will be distributed among the shareholders and the frequency of such distributions.
- Transfer of Shares: Include provisions for the transfer of shares, outlining the process, restrictions, and any necessary approvals.
- Buy-Sell Agreements: If applicable, include buy-sell agreements that dictate how shares can be bought back by the company or other shareholders in certain events, such as retirement, death, or a desire to sell shares.
- Confidentiality and Non-Compete: Specify any confidentiality or non-compete clauses that shareholders need to abide by to protect the company’s interests.
- Dispute Resolution: Include procedures for resolving disputes among shareholders to avoid potential conflicts.
- Board of Directors: If there is a board of directors, define its composition, selection process, and decision-making authority.
- Company Valuation: Detail the method for valuing the company and how it will be used in various scenarios, such as share transfers or buyouts.
- Exit Strategy: If the shareholders plan to exit the company at some point, outline the agreed-upon exit strategy and the process for selling shares.
- Amendments: Include provisions for making amendments to the Shareholder Agreement in the future.
When you have this list go to ChatGPT and say: With this information [copy and paste list here] make my startups’ shareholders agreements.
5. Employee termination letter template
Letting someone go is never an easy task; apart from the emotional aspect, it also involves various legal procedures. In some countries, before terminating an employee, it’s necessary to prepare a notification letter 10-15 days before the termination date. To create such a letter, you’ll need to gather the following information:
- Employee Details: The full name, job title, and employment start date of the employee being terminated.
- Termination Date: The effective date of the termination (day he/she/they should leave)
- Reason for Termination: The reason(s) for the termination, such as poor performance, misconduct, layoff, redundancy, end of contract, or other applicable reasons.
- Severance or Final Pay: If applicable, specify any severance pay or final compensation that the employee will receive.
- Return of Company Property: Specify the items or company property that the employee needs to return upon termination.
- Outstanding Obligations: Mention any outstanding obligations the employee may have, such as completing pending work or handing over responsibilities.
- Post-Termination Benefits: If applicable, detail any post-termination benefits, such as continuation of health insurance or retirement plan information
- Non-Disclosure and Non-Compete: If applicable, include information regarding any non-disclosure or non-compete agreements that continue after termination.
- Contact Information: Provide contact information for any further inquiries or questions the employee may have.
When you have this list go to ChatGPT and say: With this information [copy and paste list here] make this employee termination/notification letter
6. Exclusivity or non-exclusive contract
Whether you are a startup offering products or services, there may come a time when you consider granting or obtaining exclusivity with a client or provider. In this guide, we will demonstrate how to streamline the process, making it both efficient and straightforward. If you made it this far, you already know how it goes:
- Parties Involved: The full legal names and contact information of the parties entering into the contract, specifying who is the exclusive party and who is bound by the exclusivity.
- Type of Exclusivity: Clearly define the scope of exclusivity, whether it’s exclusive rights for a particular product, service, territory, or any other specific aspect.
- Term: Define the duration or term of the exclusivity, specifying the start and end dates or any conditions for termination.
- Exclusivity Obligations: Detail the obligations of the exclusive party, such as maintaining sufficient stock, marketing efforts, or exclusivity restrictions.
- Exclusivity Restrictions: If applicable, include any restrictions imposed on the non-exclusive party, preventing them from engaging with competitors or similar products/services.
- Consideration: Mention the compensation or consideration exchanged between the parties for granting exclusivity.
- Confidentiality: Include any confidentiality clauses that may be necessary to protect sensitive information shared during the contract.
- Intellectual Property Rights: Specify how intellectual property rights, if applicable, will be handled under the contract in relation to exclusivity.
- Governing Law and Dispute Resolution: Indicate the governing law of the contract and the procedures for resolving disputes, such as arbitration or mediation.
- Amendments: Include provisions for making amendments to the contract in the future.
7. NDA agreement
One of the cores of a Startup is innovation. NDAs protect the startup’s innovative ideas, proprietary technology, business plans, and financial data from unauthorized disclosure or use. On the other hand, they are crucial when seeking funding, exploring partnerships, engaging with third parties, and maintaining the confidentiality of customer information, among many other uses. Here’s a quick tip on how to make your NDA bulletproof without losing too much time.
As before complete the following list with your information:
- Parties Involved: The full legal names and contact information of all parties involved in the agreement, including the disclosing party (often the company) and the receiving party (individual or entity).
- Definition of Confidential Information: Clearly define what information is considered confidential and subject to protection under the agreement.
- Purpose of NDA: Specify the purpose for which the confidential information will be disclosed and the intended use by the receiving party.
- Duration of Agreement: Determine the duration or term for which the NDA will be in effect.
- Obligations of the Receiving Party: Detail the obligations and responsibilities of the receiving party in safeguarding confidential information.
- Exceptions: Include any exceptions to the NDA and situations where the receiving party is not obligated to maintain confidentiality.
Once you have it type on ChatGPT: With this information [copy and paste list here] make a bulletproof NDA agreement.
8. Supplier Agreement
When your startup collaborates with suppliers for products or services, a Supplier Agreement becomes essential to ensure a smooth and mutually beneficial relationship. To create a comprehensive Supplier Agreement, gather the necessary information below. Once you have it type on ChatGPT: With this information [copy and paste the list here] and prepare a supplier agreement
- Parties Involved: Provide the full legal names and contact information of both the startup and the supplier involved in the agreement.
- Scope of Supplies: Clearly outline the products or services the supplier will provide to the startup, including quality standards and delivery expectations.
- Payment Terms: Specify the payment terms, including pricing, invoicing schedule, and any penalties for late payments.
- Terms and Termination: Define the duration of the agreement and the conditions for termination or renewal.
- Quality Assurance: Include provisions for quality assurance, inspection, and any required certifications.
- Confidentiality and Intellectual Property: Address confidentiality requirements and clarify ownership of any intellectual property related to the supplied products or services.
- Liability and Indemnification: Determine the liability of each party and include indemnification clauses to protect against any legal claims.
- Dispute Resolution: Indicate the procedures for resolving disputes, such as arbitration or mediation.
- Applicable Law: Specify the governing law of the contract and the jurisdiction that will apply in case of legal disputes.
- Amendments: Include provisions for making amendments to the Supplier Agreement in the future.
9. Document translation
ChatGPT is primarily not designed as a translation platform, but it has extensive training in widely spoken languages such as English, Spanish, and French, resulting in higher language accuracy compared to the additional 27 languages it supports. While we do not currently recommend it for formal or professional translations, it serves as a valuable tool when dealing with various communications, emails, and more, offering a quick and free way to understand them.
To translate there’s nothing much to do, just type: translate this text [add text] to [add language].
10. Letter of intent
A Letter of Intent (LOI) serves as a preliminary agreement expressing the intention of parties to engage in a future transaction or partnership. To create a Letter of Intent, provide the following information:
- Parties Involved: Provide the full legal names and contact information of the parties intending to engage in the future transaction or partnership.
- Purpose of the LOI: Clearly state the purpose of the Letter of Intent and the specific transaction or partnership it aims to initiate.
- Key Terms and Conditions: Outline the essential terms and conditions that both parties agree to explore and negotiate further in the future.
- Confidentiality: Include confidentiality clauses to protect sensitive information shared during the discussions.
- Exclusivity (if applicable): If the LOI includes an exclusivity period, specify its duration and any related obligations.
- Timeline: Mention any specific timeline for further negotiations and the expected date for finalizing a formal agreement.
- Governing Law: Specify the governing law of the LOI and the jurisdiction for any potential legal disputes.
By providing this information, you can create comprehensive agreements for your startup that align with your specific requirements and protect your interests in different business scenarios. Type on ChatGPT: Prepare a letter of intent with the following information [copy and paste the list here].
