Business Contracts Every Arizona Business Should Prepare To Encounter
Business Attorneys Explain Types Of Business Contracts
As a business owner, you will have to deal with a lot of business contracts. It doesn’t matter what type of business you own, you will eventually have to sign a contract for sales, services, or something else. You will also eventually need to produce your own contracts for clients, vendors, employees or others to sign. An experienced Arizona business attorney can help you create contracts that will be effective and will protect your rights, as well as review and negotiate contracts that you are asked to sign.
Here are some of the many business contracts you should be prepared to encounter:
If you are hiring employees, you will need to have employment contracts. But even if you need occasional help, such as with a contractor, you will still need a contract. A Tempe business lawyer can draw up these contracts to protect your interests in case any disputes arise. Some of the contracts you may need can include:
General Employment Contract
This contract can outline the terms of employment, including the length of employment, the pay, any bonuses, benefits such as medical insurance, paid time off, overtime pay, grounds for termination, and more. Your Chandler attorney will walk you through each issue you will need to consider putting into the contract, depending on the nature of your business.
Non-Compete Or Non Disclosure Agreement
If you are in a competitive field, you may want to ask your employees to sign a noncompete agreement saying that they will not leave and start their own business competing with yours or try to hire your employees for their business. You may also want to ask them to sign a nondisclosure agreement to ensure that they do not share trade secrets learned at your business.
Independent Contractor Agreement
You may need to hire someone for contractual work without making them a permanent employee, and this agreement will outline the terms of your work together.
Some transactions will go beyond a basic cash register sale. For some of these, you will actually need to write up a contract outlining the terms of the sale or some other aspects. Here are a few sales contracts you might need to use or be asked to sign:
Bill Of Sale
This contract transfers ownership of a piece of property from one person to another. It is often used for larger items, such as vehicles or heavy equipment.
This can be used to order large items or bulk items, and it outlines what will be ordered, how much will be paid, and when the item will be delivered.
This type of contract has one part pledging an asset or piece of property as collateral when applying for a loan. You may enter into this kind of agreement with a bank or with another business that is willing to lend you money.
General Business Contracts
There are many other business contracts you may encounter, and you will need a good Gilbert business attorney on your side to create or review these contracts to ensure that your interests are protected. Some of the contracts you may encounter include:
A Partnership Agreement
This contract will outline the terms of your relationship, including what obligations and contributions are expected of each, how profits will be divided, how the business will pass after the death of a partner, and so on.
Property Or Equipment Lease
You will need to sign these to rent your business space or equipment you need. These contracts will outline terms such as monthly payment, required deposit, rules for use, and so on.
This type of contract has one party agreeing to “hold harmless” the other party for damages. For example, you might ask clients to sign this agreement so they can’t sue you if they are hurt while using your service or product.
Nondisclosure Agreement (Often Called “NDA”)
These agreements can be used not only for employees, but also partners, vendors, and other business associates.
These are just a sampling of the kind of business contracts you may need to create or to sign. Talk with a Scottsdale business attorney about what contracts you might need for your business, and always work with a business lawyer to review any contracts you are being asked to sign.
Hire a Professional Bussines Lawyer In Mesa
Contact the business attorneys at Denton Peterson Dunn to get help creating, reviewing, or negotiating these and other types of business contracts. We have offices in Scottsdale and Mesa, and we represent clients in businesses of all types and sizes. Contact one of our offices today to schedule a consultation with a business attorney and discuss your needs.