Question

What is the most important contract you will need to operate your business? Why is it so important? Describe any additional contracts you have or plan to secure.

Answer 1

To start any business contract is an important criterion because without any kind of contract small or large business will not be succeeded. For example if any person wants to start a business along with his friends, it was important to have an contract between them like sharing the profits, which person should which work and if loss was observed in the business how to share the revenue etc. These are the important things which should be written in the contract if the business was operated by the business. It was so important because at the beginning of the business everything will go according the business plan if loss observed conflicts will be raised between them so that it was important to write each every rule in the contract.

There are many contracts which will help to secure our business.

Web site terms of use agreement- Many of the business persons started their own business website to establish overseas. It was important to have the website use agreement between the owner and the person that who uses the site.

Confidentiality contracts- In many of the business, employers will share each and every aspect with the employees in the firm. While sharing the confidential matters with the employers need have a contract with the employees like if they share any information with the outer person of the business they will be punished legally. That contract sheet should consist of the punishments if they pass important information to the outer person. It was mandatory to have a signature of both employee and employer.