Bringing affordable co-working and networking spaces to creatives, freelancers and corporates
Client | TwoSpace
Establish formal partnerships across Sydney to offer creatives and corporates access to underutilised venues with a community vibe
Formal agreement between TwoSpace and partners over a long term to service client needs
When Tashi Dorjee and Rob Walker discovered how many restaurants in Sydney CBD were underused during the day, they wanted to find a way to offer these spaces to people that had no office or just needed a change of scenery to work in. The idea appealed to creatives, freelancers and corporates who could work in these spaces during the day, and network when the restaurants come back to life at the end of the day. TwoSpace was born.
“TwoSpacers may belong to another co-working space and the TwoSpace Kings Cross roof top allows them to get away, re-charge and enjoy a relaxed working space.”
TASHI DORJEE, CO-FOUNDER OF TWOSPACE
After finding venues and forming handshake agreements, Dorjee and Walker had to find legal assistance to formalise the relationships. They weren’t sure how it would actually work. Many sources discouraged the pair – there were plenty of legal and technical roadblocks and they were told it might be too difficult to execute.
The team at LegalVision worked with TwoSpace to understand the driving force behind the concept and what Dorjee and Walker wanted to accomplish. Once the company was in motion for TwoSpace, they needed a niche licence agreement between the restaurants and TwoSpace that would give the restaurants the benefit of earning funds from people using the space, whilst giving TwoSpace the ability to share the space with others, covering the important issues of liability and insurance.
TwoSpace also needed to inform their customers what services they would receive and how pricing and care they would receive as part of the agreement, so they arranged a custom business agreement with bespoke client terms and conditions.
TwoSpace is now working to recruit investors as part of the expansion. The company needed a tool to govern these relationships, so a contract to manage the investment was created. TwoSpace also recruited a new member to the team, and wanted to give the new team member equity. Another contract was created. It was a tool to set out the conditions that TwoSpace proscribed for new team members.
With the right relationships in place and plans for growth, TwoSpace now has the ability to continue creating relationships with new venues. The company can also recruit new investors or team members if it wishes and plans to expand to Melbourne and Singapore.
Generating ideas is exciting, but turning ideas into reality can be challenging. If you have any questions about licencing or creating bespoke agreements for your needs, get in touch with LegalVision’s business lawyers by calling 1300 544 755, or fill out the form on this page.
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