The Contracts Building Block - Part III Common Types of Contracts
A few more reasons to write it down and get it signed:
- You could be liable to third parties for someone else's negligence or bad acts.
- Your liability exposure could exceed what you earned under the agreement.
- You could be forced to litigate in another state or country.
- Your company could end up responsible for undesirable agreement made on its behalf without authority.
- Independent contractors may be able to sue you as employees for additional compensation.
- Your IP and confidential information could be stolen.
- Unless written down, all facts are open to interpretation making litigation difficult and time consuming.
Here are some common types of contracts that help address these issues. Protect your interests by having templates ready to use.
- Operation/Company Agreement
- Independent Contractor Agreement
- Confidentiality or Non-Disclosure Agreement
- Master Professional/Services Agreement
- Software License Agreement
- Subcontract Agreement
Written by Intuitive Edge Team