Key terms and fees

Key terms at a glance

This is a plain-English summary for convenience only. Our Terms of Use and, if we work together, our written agreement are what govern, and they prevail over this summary.

What Legacy Data does

Legacy Data introduces companies to AI training-data buyers and coordinates the deal process. Using the site, submitting a form or holding a call creates no engagement.

Who pays fees

Sellers pay us no fee, whether or not a deal completes. We, or our founder personally, are paid only by buyers, through referral or introduction fees. Where a buyer's referral programme pays only individuals, that buyer pays our founder, and the written fee table says so. We take no share of the amount paid to you.

When fees are disclosed

We disclose in writing how any buyer-side fee is calculated, and who receives it, before you sign our agreement, and its amount, once known, before you sign with a buyer. Before you choose a buyer, you see in writing, side by side, how each interested buyer would pay us or our founder and, where it can be worked out, how much. If only one buyer is interested, we tell you that too. If we cannot confirm an amount in time, you may decline that buyer. Any investment, advisory role or other payment or benefit that we or our founder have with, or receive from, a buyer is disclosed against that buyer in the same written fee table.

Exclusivity

You approve the buyer, the use, the term and whether any licence is exclusive before a deal goes ahead. Some buyers only purchase outright or require exclusivity, and we tell you which before you sign anything with a buyer.

Non-circumvention and tail period

Any non-circumvention terms and any tail period are set only in our written agreement and explained to you before you sign. A tail period is a time after our agreement ends during which a buyer we introduced may still owe us a fee. That fee is paid by the buyer. You never pay us a fee, during our agreement or after it ends. Our agreement does make you responsible for loss you cause by breaking it. For example, if you go around us to a buyer we introduced and that buyer's fee is lost, you may have to make up that loss, up to the fee the buyer would have paid. Our agreement also asks you to cover losses and claims that arise from your breach or from the records. We explain both before you sign.

De-identification responsibility

Before any records reach a buyer, a de-identification vendor engaged by the company (or the estate) removes or de-identifies personal data, including names, contact details and credentials. Legacy Data does not de-identify records itself and never receives them.

See the full terms

Four steps

The steps are the same whether the company is operating or closed. A company may stop at any point before it signs with a buyer. Where the company is closing or has closed, please begin the review before a workspace subscription lapses. The provider may delete the records after a period.

1. 01

   Tell us what you have

   We review what the company holds, who controls it, and whether a further step is appropriate. Please do not send files. If the matter proceeds, we sign a confidentiality agreement before detailed discussions.

2. 02

   Confirm who can say yes

   We ask for evidence of who can approve the deal. In an operating company, that is usually the board or an officer it has authorised. In a closure or court process, it may be a liquidator, trustee, administrator, receiver, assignee or secured lender, and court approval may be needed. Before you sign our agreement, we tell you in writing how each buyer's fee is calculated and who receives it. You sign our agreement. Only then do we describe the records to AI training-data buyers.

   You decide
3. 03

   Choose your buyer

   You can refuse any buyer. Once a fee is known, we confirm its amount in writing before you sign with that buyer; if we cannot, you may decline that buyer.

   You decide
4. 04

   Clean, sign, get paid

   Before any transfer, a specialist de-identification vendor engaged by the company removes or masks names, contact details, credentials and other direct identifiers. Records that cannot be adequately de-identified are not licensed. The buyer contract sets use restrictions and bans re-identification. We never take custody of the data. If you approve a deal, payment is made on the terms of the buyer contract. If the company is still operating, it may be able to keep using its records, if the buyer agrees to a non-exclusive licence.

   You decide

Before we approach any buyer

A review requires that the records still exist and that someone has authority to approve a deal. Where records do not qualify, we will say so.

Four points must be confirmed first. A description is sufficient; please do not send files.

1. Who has authority to license or sell the records. That may be the board or an officer it has authorised, an assignee, an administrator, a liquidator or a trustee, and a court may have to approve.
2. Contracts that limit data sharing, including customer contracts, employee notices, platform terms and consents.
3. Which systems or folders hold sensitive material, so it can be excluded from the start. Health records, children's data, HR, payroll and compensation records, credentials, client-held material and privileged material are never offered.
4. An outline only: the software, the years covered and the approximate volume. No files, access or passwords.