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Important contracts for new businesses

When making plans to launch a new business in Florida, ensuring that you have proper legal agreements and protections in place is important. No matter what type or size of business you are starting, you should take the time to outline what standard business contracts you need and what terms you want to outline in them.

Entrepreneur recommends that any business other than a sole proprietorship be started with clear owner and operating agreements. This is necessary for a two-person partnership, an LLC, an S Corporation or a C Corporation. It can define for you and your partners or shareholders exactly who is to contribute what to the business, who owns what percentage of the business and how much each person is to be paid and in what form. An exit strategy for each partner or shareholder should also be part of these contracts.

Whether you are starting an ecommerce store or a consulting agency, you should determine your customer agreements. These range from your policies on returns or privacy to the stipulations regarding account payments and past due amounts. Contracts for employees and independent contractors are also essential. Terms by which both parties are to be bound should be detailed with notes regarding intellectual property and dispute resolution processes. Non-compete clauses can also be added if they are appropriate for your business.

If you would like to learn more about business contracts and what you may need when starting your new business, feel free to visit our Florida legal business webpage.

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