Full Video Transcript
A written contract is an agreement with specific terms to which both parties agree to be legally bound. If the language in the contract is not properly worded, it can be detrimental for an individual or a small business. It's important to discuss what each party's obligations under the terms of the contract will be. Think about the products or services the contract will cover, and make sure that you're specific with the language. Contracts are important for any business deal and become vitally important especially when a problem or dispute arises between parties. It is advisable that a qualified lawyer draft business contract setting out the terms and goals you wish to achieve. A good first step for any business owner is to contact a local business attorney or legal clinic to ensure that you draft a business contract will protect you and your business interests.