Many businesses are operating without key contracts in place. And sometimes that works…until it doesn’t. Now when things go south, you’re looking at lost time, money, and relationships because there wasn’t clarity.
What types of missing agreements typically cause the most problems?
- Ownership contracts (corporate shareholders agreements, LLC member operating agreements, and partnership agreements)
- Worker Agreements (employment and/or independent contractor)
- Supplier Contracts
Of course, there are other business agreements (e.g., licensing, software development, buy-sell, etc.). Yet these three types identified above are the most frequently missed.
What about verbal gentlemen’s agreements? They’re almost worthless, particularly when you want to enforce them but can’t.
If you’re missing important business contracts and need help, the first step is to set up a phone consultation with Business Lawyer Mike Young.
