Adding and Managing Legal Entities in SpotDraft

Introduction

Your organization may have multiple entities under it, based on factors like region, jurisdiction, or business unit. SpotDraft helps you easily manage these entities and streamline the contract creation process for each one.

Manage Entities

Create an entity

1. Access the "Entities" Section:
   • Go to "Settings" in your SpotDraft navigation bar.
   • Select the "Entities" card.
2. Add New Entity:
   • Click on the "Add New Entity" button.
   • Fill in the required information, such as the entity name, address, jurisdiction, and any other relevant details.
   • Click "Save" to add the new entity.

Edit an entity

1. Access the "Entities" Section:
   • Follow the steps above to access the "Entities" tab.
2. Edit Entity:
   • Click on the "Edit" button next to the entity you want to modify.
   • Make the necessary changes to the entity's information.
   • Click "Save" to update the entity.

Delete an entity

1. Access the "Entities" Section:
   • Follow the steps above to access the "Entities" tab.
2. Delete Entity:
   • Click on the "Delete" button next to the entity you want to remove.
   • Note: You cannot delete the primary entity.

Entity Properties

Primary Entity

1. This entity will be the default selection in the dropdown menu when creating a new contract.
2. When using public APIs to create a contract, this entity will be used if no specific entity ID is provided. However, this entity must be allowed for the specific contract type being created.

Company Seal

Each entity can have its seal. This will be used at the time of singing. If a seal isn't set here, you will be prompted to upload it when adding the seal to the contract.

Entities for Contract Types

Sometimes you may have contract types that are relevant only to a specific set of your entities. For example, you might have a "Sales Agreement" contract type that's only applicable to your US-based entity. By defining entities for specific contract types, you ensure:

• Accuracy: Users are only able to select relevant entities when creating a contract.
• Efficiency: Irrelevant entities aren't displayed, saving time during contract creation.

Define Entities for Contract Types

1. Access "Contract Types":
   • Go to "Manage" in your SpotDraft navigation bar.
   • Select "Contract Types".
2. Select Contract Type:
   • Click on the contract type you want to manage.
3. Choose Entities:
   • Go to the "Entities" tab.
   • Use the "Select Entities" dropdown menu to choose the entities you want to allow for this specific contract type.