Every business should have contracts to protect themselves and their clients. It is an essential part of owning and maintaining a business. Contracts can contain many different types of clauses, but there are a few that are widely used across the board. Typically, commercial contracts tend to use a certain set or terms and conditions. If you have a business, you want to hire a lawyer that can help you set up your contracts and make sure to utilize all of the necessary clauses. These are put in place to make sure that you are protected, should any issues arise.
Types of Clauses
Termination Triggers are an important clauses to make sure that you have in your employee contracts. Sometimes it is necessary to fire an employee, when you do this you must make sure that your clause in your contract covers you. It must clearly state the circumstances in which one or both of the parties can terminate the contract, non withstanding the time left in the agreement. This is very important so that you do not get caught in a situation that you cannot terminate someone that you would like too.
The Jurisdiction Clause is important in all business contracts because it is essential in determining the legal framework where any and all contractual problems will be resolved. This clause can also be known as a choice of law or forum selection. This clause is necessary to announce the jurisdiction and or court that will be the choice for resolving any issues that your business may have. This is where the parties in the contract will go, if an issue arises. It is important to have this clause in place.
The Copyright clause is necessary for business owners to establish in their contracts to protect themselves and their company. By including a copyright clause in your business contract, it protects you from having any of your content stolen. By instituting a copyright clause, this illustrates what is the website owner’s intellectual property, so that others know what they can and cannot do with it. It keeps the business from having their work plagiarized.
The indemnity clause is very important to include in business contracts because it changes the risk from the indemnified party to the indemnifying party. This clause gives the indication that the agreement between the two parties is that one will compensate the other for any losses or damages. This shifts the risk from the indemnified party to the indemnifying party. This process will compensate a person for damages or losses that have incurred due to an accident or event.
The Dispute Resolution Clause is important to have in a business contract to protect your business from any disputes against your business that may arise. This clause will outline what the process will be if a dispute occurs. This will be in place to make the process smoother to resolve a dispute by trying to provide a clear and concise path of what the process will be. By establishing this, both parties in the dispute will be aware of the process, and will follow it through.
A Force Majeure Clause needs to be included in business contracts to make sure that if there is an unforeseeable and unavoidable catastrophe that could possibly prevent you from completing obligations, you will be covered. A Force Majeure Clause is to make sure that you do not have any liability, if an unexpected and unavoidable event occurs. Generally, these clauses will cover some human actions, such as diseases, and also some natural disasters such as earthquakes, tornadoes, and hurricanes. These events are not predictable and they could wreak havoc on your business. It is in important clause to include.
How to Complete Your Business Contract
In order to have a through and complete business contract, you must make sure to include all of the important clauses. The best way to insure that you have everything included that you need to, is to hire a very competent business lawyer. Bovarnick and Associates have an enormous amount of experience with business law. Many of their attorneys can assist with this, no matter how big or small your business is. They will walk you through every step of the way. You will feel much more secure knowing that your business contract is done right. Reach out to today at 215-568-4480 / www.rbovarnick.com.
