Question
In the alpha stage, is it reasonable for us to take a similar company's Terms of Use and/or Privacy Policy and edit them a little, saving significant cost on legal fees?
Answers: 1 public & 0 private
The short answer is no, because it's risky to do so. The long answer is that a lot of start-ups do this, and often to their detriment. As a professional, I can't recommend it at all. However, if you absolutely must save money by doing it that way, here are some tips:
1. I'd recommend that you don't edit them just "a little". Edit the heck out of them. In fact, re-write them in your own words as best you can. If you don't understand something, look it up.
2. Use other documents as a coverage checker to make sure that you've covered what you should.
3. As soon as you have some funds, GET AN EXPERIENCED TECHNOLOGY LAWYER TO CHECK THEM.
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