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What types of contracts should most businesses have? 

Businesses have a huge range of issues that they have to deal with on a daily basis and ensuring that they have the appropriate contracts in place can make a big difference. Knowing the different types of contracts and which ones to use can be overwhelming sometimes, you might need help and finding a business law attorney at Birk Law Firm can help even more. 

Partnership Agreement

The first and most common is a partnership agreement. If you have any sort of partner that has any sort of claim to your business this is a very important contract to draw up and update frequently. A partnership agreement outlines the basics and the intricacies of your partnership. It can show how much each partner is entitled to, how much each partner stands to make, who can sell, what they can sell and so on. This is a very important piece of paper to have on hand if you have a partnership as partnerships with business do not always work out and making sure that all the terms are clearly outlined can make a huge difference. 

Leases

Another contract you might want to think about are any leases that you might have on your property, equipment, or any other item needed for your business that you do not own outright. Leases are going to outline how long you have an item for, what condition it has to be returned in, how much you pay for it and more. Leases can apply to equipment, property, the building you use, materials and more. Making sure you have access to them to make sure that they are kept up so that you can check it and reference back if needed. 

Employment Contracts

Still another contract you should have on hand are your employment contract for those that work for you. Employment contracts are handy to have easy access to so that you can refer back to them as needed and so that you can easily access them if you are hiring new employees. Employment contracts are important because they help to outline how much an employee makes, the overall benefits that they get, and more. It helps to illustrate the relationship between the employer and the employee so that you can learn just what each employee is expected to do and so on. 

Indemnity Contracts

These are contracts that are going to protect your business if any damage is done or if any issue arises during the course of business. This can relate to things like shipping contracts, loan agreements, licensing and more, basically, anything that is high risk or that has some form of risk attached to it. This is going to protect your business from liability and is going to protect your business and keep you from getting sued or from getting in trouble if the risk that you take does not pan out. 

Non-Disclosure Agreement

Another thing that you might need to have on hand is a non-disclosure agreement. This is going to protect the goings on that you might want to keep secret or that you might not want to disclose. This is also going to help keep any trade secrets that you have private and will help those that work with you understand what they are allowed to disclose and what they need to keep to themselves. This will also help to keep your content and your information safe and secure when you enter into any contract or working relationship with another person. 

Contractor Agreements

If you are going to have any sort of work done or are planning on expanding your business at any point you do want to have contractor agreements on hand. You might also want to think about contractor agreements if you are going to be using a contractor to get items for your business or if you are going to have any work done in the future. Knowing what you expect from a contractor and what you expect from any working relationship can make a big difference. 

When to Hire a Lawyer 

Hiring a law firm is a great thing and it can help you to draw up, keep contracts on hand, and can also help you negotiate contracts as needed to help make sure that they are up to date. Hiring a lawyer and law firm to help with contracts is also the best way to ensure you are getting accurate contracts that are legal and binding and that can then be used when you want to enter into a contract with another person or another business. 

Hiring a lawyer is a great way to ensure that your contracts are legal, that they are well written, and that they are going to be binding as well. The right law firm can help you draft the contracts that are going to work for you time and time again. 


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