Lawyers think about worst case scenarios. It’s what we’re paid to do. But business people are optimistic and generally believe things will work out.
Tagged: business contracts
Make sure your contracts are air-tight and leave little scope for exploitation.
My decision to move away from year-to-year contracts was rooted in intuition at the time, but these are the proof points to back up what I perceived on a deeper level.
You probably enter into business contracts regularly. But do you understand contracts basics? Can you interpret boilerplate provisions? Are you sure your contract is enforceable?
Unlike those glorious crock pots that let you “set it and forget it” when you’re making dinner, drafting a contract for your business and then neglecting it is a surefire way to, well, start a fire.
There are so many different ways to continue to protect your brand and business and this is just the tip of the iceberg. Let your haters be your legal motivators.
In the interest of saving on legal fees, you may have downloaded a freebie business contract from the Internet. But often it is what you don’t know that can hurt you.
Here’s a look at four areas omitted from one-page business agreements and why they may be significant to your small business.
Can you remember as a child when it was perfectly acceptable to yell, “Mine!” without being ostracized as if you had three heads? Fast forward to circa now, and you’re a successful entrepreneur running a profitable venture on a much larger playground. Inevitably while building your empire, you will run into grown-ups that are still running around the playground yelling “Mine!”