Marketplace Trends

How Online Terms Can Make or Break Marketplace Apps: A New Guide

Ebook Summary - Marketplace Terms-10

The good news: superior terms management and seamless user experience don’t have to be mutually exclusive. In our latest eBook, we outline how it can be done.

Your terms (terms of service, user agreements, privacy policy, etc) are the most important contract in your entire business. That’s why they should be left to the professionals - the legal team. When it comes to online marketplaces, if your terms do not hold up, no other transaction on your platform really matters.

Download: How Online Terms Can Make or Break Marketplace Apps

So how can you balance the importance of enforcing your terms, while maintaining a rapid and smooth experience for your buyers? How can legal be an asset in this department instead of a bottleneck?

Legal's Job: Protecting the Company from Worst Case Scenarios

Doing business at a high volume puts your online marketplace at higher risk of lawsuits, especially class actions. Marketplaces like Wayfair, Uber, Amazon, and Airbnb have faced individual and class action suits, and have needed to defend their online terms - and arbitration clause - in court.

Legal is responsible for mitigating business risk and drafting as well as enforcing terms. Yet when it comes to online terms, they are so often reliant on the product team or internal technical resources who own the digital space. This can result in legal asks peppered throughout your ticketing system, time spent making updates or changes for something your department does not ultimately want to manage, and potentially increased risk if you do not have tools meant to handle legal content.

Your Job: Enable Legal to Their Job Without You

Marketplaces are meant to help facilitate business in an efficient, low touch way. Variable terms and unique products shouldn't prevent a seamless experience. As the team responsible for the technological resources produced by and available to the company, you should work with legal to purchase a comprehensive solution for this problem. In this eBook, you will learn what to look for. 

We have several tips for managing online terms for your marketplace products that will transform your agreements into seamless, automated transactions. We've guided online marketplaces like Upwork and DoorDash through some of these very same issues. 

Download this eBook to learn:

  • Legal considerations for building terms management into your app

  • How DoorDash and Upwork make it work

  • The importance of screen design

  • How to more effectively prepare for court.

Download the "How Online Terms Can Make or Break Marketplace Apps" eBook

 


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