We’re tight on money & I’d like to use the TOS & Privacy Policy from another similar type of site for our needs to keep costs down. Is this illegal?
There are elements that we’d need to revise for our needs but it’s a perfect base to get started with. I’m aware that we’re subjecting ourselves to possible issues of not having something custom for us. I’d still like to have an attorney review it but I don’t want them to draft it.
Maybe, but it's unlikely anyone will notice or mind unless you point them to it.
You can also use any of the TOS- or Privacy-Policy-generator sites to get started until you want to spend real money on a lawyer.
Like!
It's just as legal as taking a picture you found "on google" and using it for your website.
To the second reply: No, that's a wrong analogy. A picture found on Google is protected by copyright laws (unless it has a creative commons license or something similar). TOS and Privacy Policy are just contracts, and the wording is not protected by any laws. It's not like you are copying a novel.
You must just be careful to adapt them properly, see that they mention your company/product/brand and not the site's you copied them from, and make sure they are right for you, and protect you and your users.
People pay lawyers to make these kinds of contracts not for copyright issues, but rather to be protected from a law suit and to reduce liability as much as possible.
Use a TOS/PP generator, make your tweaks, then have your attorney review it.
e.g.
http://termsfeed.com/terms-service/generator/2
You can be inspired by someone else's work, but copying it wholesale is, well, copyright infringement -- unless you ask first.
If they are a not a direct competitor, they may be cool and give you permission to use/modify it. Won’t know unless you ask.
TechLawyerGlobal.com will proofread and tweak a free T&C Template for your business needs. I have got mine done, the only cost was $50.. That is all I paid for the peace of my mind...