Contracts are important for all businesses, including new startups, where the business trajectory may still be largely uncertain. Having contracts in place enables founders and owners to define rights, obligations, and expectations, which are beneficial to risk management and business growth. Meanwhile, essential legal documents can protect a company’s interests, define its structure, and secure funding.
Understanding this, and the fact that many entrepreneurs within the FSI community do not have access to legal expertise to gain a good grasp of the contract law in Hong Kong, we partnered with Johnson Stokes & Master (JSM) to host a workshop on 27 October to offer practical guidance on contract fundamentals, key clauses, and negotiation strategies to nine entrepreneurs from our Mentorship Program for Ethnically Diverse Entrepreneurs and entrepreneurial community, as well as one ICF Hong Kong Chapter coach.
The workshop was led by Jason Leung, Partner at JSM, who specializes in construction-related legal proceedings, contract negotiations, and dispute resolution across Hong Kong, Mainland China, and international markets; and Justine Hwang, Associate at JSM, who advises on real estate and construction-related contracts, from initial agreements to dispute resolution.
In addition to the core elements of a valid contract, the different types of contracts, and key contract clauses, Jason and Justine also elaborated on the common issues to consider when drafting contracts and the key items to be aware of when reviewing and negotiating contracts. For example, it is important to ensure the contract terms are recorded in writing, even for verbal agreements, and they must be clear and specific to avoid potential disputes in the future. Subsequently, proper dispute resolution clauses should be put in place to prevent potential costly legal procedures after the fact.
Leveraging their expertise, Jason and Justine also responded to participants’ questions, such as the legal measures to protect the intellectual property (IP) of a new idea for a startup, and the ways to contract with freelancers, contractors, and employees in a way that protects the business’ proprietary information and core assets.
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From the capacity to contract, legally binding verbal and written contracts, confidentiality and non-disclosure obligations, to liability and indemnity, dispute resolution, and due diligence, participating entrepreneurs at various stages of business development were able to take away new legal knowledge to grow and protect their businesses through contracts.
“The workshop was very thoughtfully planned and provided a comprehensive overview of the essential terms and components of a solid commercial contract,” said Amanda Yik, mentor of our 2025-26 Mentorship Program and Founder of Shinrin Yoku Hong Kong. “There are many considerations and nuances that go beyond what the two hours can cover, but thanks to the speakers who offered their insights as best they could, and I’m very grateful for their time and expertise!”
“I found the legal workshop really helpful, as I’m not from a legal background and have had limited exposure to business contracts,” said Kaylini Naidoo, mentee of our 2025-26 Mentorship Program and Founder of Upeeling. “I found the examples useful, and the practical insights and some of the sharings from JSM and the group to be relevant to my startup.”
The entrepreneurs aren’t the only ones who benefited from the workshop, but the JSM instructors, Jason and Justine, too. “The session was lively and interactive. In addition to sharing our knowledge with the entrepreneurs, we, in return, have learned more about the challenges in the start-up space in Hong Kong.
“In particular, we have listened to entrepreneurs share their experiences and difficulties firsthand. The topics covered during the session, albeit within two hours, have triggered stimulating thoughts from the attending entrepreneurs and reflection on their daily business operations. We are pleased to have taken part in this thought-provoking process.”
Our heartfelt gratitude goes to our valued partner, JSM, who not only offers pro bono legal support to the mentee entrepreneurs of our Mentorship Program, but also demonstrates how cross-sector collaboration can effectively engage, develop, and retain corporate talents while contributing to a good cause. In addition to Jason and Justine, we would also like to thank the coordinator, Alan Lau, Pro Bono and Corporate Social Responsibility Manager at JSM.
If you are interested in participating in our mutually beneficial Impact Jams, whether it is to kick-start your personal social impact journey, engage and develop your talents, or achieve your corporate ESG and CSR goals, FSI’s Impact Jams are customizable, impactful engagements conducive to creating lasting shared impact. Get in touch with us at communityconnections@shared-impact.com to learn more!
