Coworking:
Coworking is an arrangement where different companies share their office spaces. In other words, it refers to a model of work where budding entrepreneurs to evolving startups, midscale companies operate in a communal spaces owned by a third party. They have a common easement and they rent spaces for their office setup. Many startups and small scale industry prefer this type of workspace rather than leasing a space for carrying out their business. This helps the businesses and companies to save cost and convenience through the usage of common infrastructure, equipment, utilities, refreshments and so on.
This coworking concepts revolves around contracts and management of their assets. In general, contracts in coworking spaces involve agreements between the coworking space provider and the individual using such spaces. These contracts outlines the terms and conditions of the relationship and the use of the premises. There are certain aspects which it cover in the contracts for coworking spaces such as membership type, duration, payment, space usage, termination, cancellation, liability, privacy, dispute resolution and so on.
Why does Coworking need CLM?
Though Coworking involve in very few contracts or agreements, there is a need to have a Contract Management software. Contract Management software is essential for startups that collaborate with coworking. Similarly there is a need for those Coworking to have a contract management software in order to have a clear understanding among the parties i.e. the companies which have occupied the premises or office space. List of agreements which coworking involves are Coworking Agreements, Coworking space Agreement, License Agreement, Terms of use, or shared Office Space Agreement.
Need for CLM in Coworking:
