Terms of Use, also known as Terms of Service, are a legal agreement between a company or website and its users that outlines the rules and guidelines for using the service. It typically covers a wide range of topics, including:
- Acceptance of the terms: Users agree to the terms of use by accessing or using the website or service.
- Intellectual property: The website or service’s ownership and use of content, trademarks, and copyrights.
- User-generated content: Guidelines for posting or sharing content, including restrictions on inappropriate or illegal content.
- Privacy and data protection: The collection, use, and protection of users’ personal information.
- Liability and warranty: The website or service’s limitations of liability and warranties.
- Termination and suspension: The circumstances under which the website or service can terminate or suspend a user’s account or access to the service.
- Governing law and jurisdiction: The laws and jurisdiction that govern the agreement and any disputes that may arise.
The terms of use serve as a legally binding agreement between the company or website and its users and aim to protect both parties' interests. It's essential to read and understand the terms of use before using a website or service, as it can impact how you use and interact with the service.
Terms of Use Template
Template below was crafted by OCV’s legal counsel for OCV (open core) companies as of February 20, 2023. Companies must review and edit highlighted sections prior to releasing their Terms of Use.