What Types Of Contracts Will Your Small Business Need?

As a business owner, there is a strong chance that you are going to need to draft a legal contract at some point. No matter what your particular business type or industry and no matter what the size of your company, contracts are often necessary to protect you and to help you to better grow your business. It is important that you understand the types of contracts that you may come into contact with and how to draft these.

The most commonly drafted contract by small businesses is the client contract. This is used by businesses that provide any number of services and is something that will protect you with regards to the services that you are expected to provide as well as the payment that you will receive for those services. A client contract will set out exactly what you will receive and what you have to do to receive it.

Whether you are selling goods or services, you may need a sales contract at some point. Sales contracts are signed by customers when goods are sold and typically indicate the type of products that are for sale as well as the price for those products and any relevant policies regarding returns and refunds. If you sell products and one of those products is faulty or otherwise damaged, a sales contract will specify to your customers what they can do for a replacement or a refund and the steps that they need to take in order to rectify the problem.

If you plan to hire employees now or in the future, you will also need to consider drafting an employee contract for your business. Employee contracts detail what your employees are expected to do in terms of work and what you are expected to do in terms of pay and benefits. You should include information about overtime work and pay and any specific business policies or dress codes in the employee contract as well.
There are other legal contracts that you are likely to see in the course of your business dealings. If you rent or lease office or retail space, you may be required to sign a renters contract. These and other legal documents can be better explained by a business attorney. An experience attorney can help you to determine which specific contracts you will need in your business and help you to draft custom contracts that meet your unique business needs.