Every business and company requires agreements that govern their business relations. We recommend putting these agreements in writing and thus enter into a contract. A good contract provides you with clarity on the relation and thus with peace of mind.
These contracts may be for a single transaction, but can also serve a relation for many years. Examples of the first category are agreements regarding the purchase or sale of specific assets. The latter category is more extensive and includes for example distribution or agency agreements, which enable you to sell other parties’ products or have others sell yours.
If you own a franchise formula, or would like to participate in one, you will have to enter into a franchise agreement that sets out all do’s and don’ts of that relation. Almost all businesses nowadays have general terms and conditions that apply to the sale of their goods and services, this is a key document to limit the liability of your business. Finally, cooperation and joint development agreements are often entered into to create clarity on the creation of future value, on the ownership of intellectual property rights and the division of the risks involved. This is essential if you are setting up a new business