Regardless of what type of business you run, chances are you are entering into contracts all the time. Having a few model agreements for your company can save you a lot of time and resources in the long run. For instance, having a solid non-disclosure agreement that you can trust will give you the freedom and peace of mind to collaborate with others on ideas. Using a model sales agreement can ensure that your liabilities and risk remain consistent from customer to customer. While it may seem cheaper to piece together agreements from excerpts found on the Internet, doing so can often result in inconsistencies or, worse, with language that works against you. Small business owners are particularly at risk of incurring massive expenses down the road if the contract is not honored and the customer is out of state.
It is helpful to have template NDA’s, terms of sale, and other frequently used documents, stored in a central location where you and your employes can access and use them. Highlight the areas that are changeable, so the rest of the language stays consistent from contract to contract.