Why is it better for lawyers to sell their document templates on instadoc than to deposit money in a bank?

It is more profitable for lawyers to sell their document templates on the Instadoc platform than to simply deposit money in a bank, for the following reasons:

1. The potential for passive income in the form of royalties with growth

When lawyers sell document templates through Instadoc, they create an asset that can earn them long-term passive income in the form of royalties. A document created and sold once can be used multiple times by other users. If the demand for the templates increases, their income will also increase along with the number of sales without any additional effort on the part of the author.

Unlike royalties, money on deposit in a bank earns a fixed interest, and this amount does not increase with the number of customers or the increase in demand for the product.

2. Diversification of sources of income

A lawyer who sells templates on Instadoc can diversify his income. Instead of depending only on working with customers, he can make money by selling ready-made solutions. This reduces the risks associated with possible outflows of clients and fluctuations in the financial market, which may affect the lawyer's income.

3. Royalties are advantageously different from low interest rates on deposits

In today's economic conditions, interest rates on deposits may be low and may not even cover inflation. This means that money on deposit may lose purchasing power over time. While the sale of templates on Instadoc can generate income that does not directly depend on inflation, and may even increase as the platform develops and the demand for documents increases.

4. Growth of professional reputation and promotion

By selling their templates on Instadoc, lawyers can enhance their professional reputation. If their templates are in demand and receive positive feedback, this can attract new clients for their core legal business. In fact, the platform is a way to promote and showcase their expertise.

A deposit in a bank does not bring such additional value, except for a small financial income.

5. Low barriers to entry

The creation of document templates is a relatively small investment compared to investing in physical business and banking products such as deposits, which require the availability of significant funds. Lawyers can use their experience and knowledge to create quality documents, spending only time on development, but receiving a long-term benefit.

6. Increasing the value of intellectual property

Documents sold through Instadoc can be considered intellectual property that has value and can be sold or licensed multiple times. Unlike a deposit that simply earns interest, the document can be improved, adapted to new conditions, which increases its demand and potential profit.

7. Flexibility and control over sales

Selling templates on Instadoc gives lawyers more flexibility in managing their income. They may change the prices of the templates, create new documents or provide additional services (such as advice or help with the use of the documents). This gives more control over potential income than a fixed income from a bank deposit that cannot be changed at will.

8. The possibility of exponential growth

The financial growth from selling templates can be exponential. The popularity of Instadoc will grow and new clients will join the platform, the lawyer's income from the sale of templates may increase significantly. A bank deposit, on the other hand, offers a linear, pre-determined interest rate that is not tied to success or demand for legal services.

9. The lawyer will be able to receive income even if the GPT chat learns how to draw up documents with high quality

Yes, it will happen, but there is a caveat: if GPT will learn from InstaDoc templates, we will have the right to make claims for the protection of intellectual property rights.

By selling document templates on Instadoc, lawyers gain the opportunity for long-term and scalable income that can grow as the platform grows and the demand for legal documents increases. Investing money on a deposit can be stable, but it is unlikely to give the same growth prospects and professional benefits as creating and selling intellectual property through Instadoc.

Templates that may be useful:

- Offer account for payment of royalties (Ukrainian-English) ;

- Invoice and act for payment of royalties to the author (Instadok) ;

- Agreement on transfer of property rights and provision of advertising services, advertising of lawyers (Instadok) ;

- Agreement on provision of legal services ;