4 Key Contracts Every Business Should Utilize

Running a business means more than just understanding how to make a product or provide a service to customers. You also need to make sure you are making the right legal decisions to protect your business and help ensure it will have a long and profitable future. In many cases, this means using legal contracts to make sure everyone is on the same page regarding their rights and responsibilities in a given situation. The following contracts are among the most important, yet still often forgotten, types for business owners.

Confidentiality Agreements

If your business has any trade secrets, or even if you just have internal information that you don’t want getting out, confidentiality agreements are essential. These agreements make it a violation of the law for anyone who signs to disclose the information they saw or heard. Employees should sign this type of agreement, as should any vendors or other companies that will have access to your trade secrets or other information.

Non-Competes

When an employee comes to work for you, they become much more valuable because of the experience they get, but also because of what they see while on the job. Having all employees sign a non-compete agreement will help ensure that they can’t take the knowledge they learned on the job, and bring it to a local competitor.

Leases

Leases are one of the most popular types of contracts in existence. They can be used for leasing property to do business, as well as leasing equipment or other items needed for accomplishing specific tasks. Having a detailed lease agreement adds predictability to your business, which is essential for long term success.

Independent Contractor Agreements

If you will be bringing in independent contractors to complete certain tasks or provide specific knowledge, you should have a contract with them. This contract should cover things like how much they are to get paid, what their role is, and if possible, how long the contract will last. Other information can be included as well based on the situation.

Get Help with Your Contracts

If your company needs any of these, or other, contracts written up, you will need to have a business attorney available who can take care of it right away. Here at the Reyes Law Group, we help many different businesses create and enforce many different types of contracts. Contact us to discuss your needs and see how we can help.

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Written by Reyes Law Group