Disclaimer: Obviously, this blog does not provide legal advice. How do you know? This is free. Legal advice you have to pay for.
One of the largest problems we see when new clients come in is that they are lacking even the most basic legal documents for their business. Considering how many free or low cost legal templates are online, there is no excuse for not having the minimum to keep your business legal. It is difficult for us to help after something goes wrong when there has been no foundation laid.
Here’s a great example, a business comes in after being sued. The business is small and doesn’t have a lot of money, so the plaintiff wants to go after the business owner. Typically the corporation or LLC is supposed to protect the owner in this case. However, often courts will look at the documents and see that they are incomplete, or not kept up. In that case, they will say that the corporation or LLC is void and the owner is the defendant. They call this piercing the corporate veil.
So here is a list of the absolute minimum documents you need to have in order to keep your business legal. Without these, your company is not providing you with sufficient protection:
- Indemnification Agreement
- Buy Sell Agreement
- Non-disclosure Agreement (NDA)
- Executive Employment Agreement
- Employment Agreement
- Independent Contractor Agreement
- Business Plan
- Online Terms and Conditions
- Intellectual Property Transfer Agreement
Of course, our LLC and corporation packages include all of your minimum documents and even a few from the recommended list to make sure your business is off to a strong start.
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