By On Sep 13, 2018 Form Template
Every penny counts for startups and small businesses, but some companies try to save money by neglecting to draw up contracts or to seek legal advice. This is penny wise and pound foolish. In the long run, your attempt at savings can cost your company, both in the event of legal action down the road and in lost opportunities.
If the transaction is for a large amount, the cost of an attorney to draft a document is relatively small compared to the cost of losing money in the transaction. However, if you have basic needs, such as requiring standard employment contracts, it obviously makes no sense to spend hundreds (possibly thousands) of dollars hiring an attorney to draft the contracts.
When it comes to being an entrepreneur, there is simply no way around legal paperwork. After all, it constitutes the very framework of your business, minimizes risk and helps protect your interests. So how do you go about drafting and managing employment agreements, partnership agreements, employee handbooks and independent contractor agreements, just to name a few?
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