BASIC LEGAL CONTRACTUAL GUIDE FOR PLAYERS IN THE FINTECH INDUSTRY

Abstract

With the increase in active players within the FinTech industry, it has become necessary to shed light in the simplest and clearest terms on how best the relationship established under such arrangements can be regulated. The introduction of technology to the financial service space is unique and accompanied by positives; however, this should not amount to a neglect of important establishing agreements to prevent exploitation in any form. So many attempted partnerships, though unofficially on record, especially by start-ups and individual experts of various specialties have failed as a result of absence of clear terms governing their relationship. Particularly, some of the established companies have acquired start-ups without according them the economic value they deserve. This paper attempts to touch on some of the important contracts to be executed in such relationships and some clauses that are considered of great importance to protect parties to such an arrangement.

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UNILAG Law Review, (2021) Volume 5 Edition 1.