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Contracts to help your business survive

On Behalf of | Aug 23, 2021 | Business Formation |

Your business has too many assets to take lightly. Every important business agreement needs to be written down and legally binding to anyone who signs it. There are certain contracts that every growing company in New York needs to protect its assets.

Lease agreement

A commercial lease is needed to rent a space in a building where your customers will find you. Determining the best location for your business is the first step. Next is to negotiate a contract that favors you, as the tenant, and makes the landlord’s responsibilities clear.

Confidentiality agreement

A non-disclosure agreement is outlined between two parties to prevent one party from revealing confidential information that may cause detriment to the business. An example is a doctor–patient confidentiality contract that prevents doctors from revealing the details of their patients’ records. If any confidential information is released, the result could be a liability or malpractice lawsuit that could destroy the business’s reputation and reduce its clientele.

Commercial equipment lease

A commercial equipment lease agreement allows you to use advanced technology at reduced costs. You can upgrade your equipment at any time or rent out your equipment at a fair market value.

Partnership agreement

A partnership is not necessary but is recommended to include in your business formation and planning. A legally binding contract that is made between two or more partners includes an outline of each person’s duties, responsibilities and liabilities.

Finding the right paperwork for your business

Every business owner has a pile of paperwork to fill out before and after a business is formed. Not every business has the same documentation requirements, but having the right types of contracts is necessary to avoid lawsuits and provide for the best interests of the company.

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