3 Legal Documents Most Entrepreneurs ForgetDec 05, 2022
When it comes to running your own business you have to wear all of the hats, marketing, sales, accountancy, legal - not to mention you actually have to deliver your services.
We thought it could be a helpful reminder for you to look at some of the legal documents that lots of entrepreneurs forget so that you ensure your business is legally protected. Remember that whilst gorgeous photos and a shiny slick website are great, they are nice to haves, whereas often, having the correct legal documentation in place is the law, which means you don't have a choice, you need to get the documents in place in order to stay legally compliant.
- Director Contract of Employment - All employees must have a contract of employment outlining the particulars of employment from day one. If you are employed by your company, and you're on the payroll, then you should have a contract of employment in place. If you haven't got one and need one, you can get one here.
- Data Protection Agreement (DPA) - The GDPR requires that a DPA is in place "whenever a controller uses a processer to process information". What does that actually mean? It means that if anyone working for your business processes information then you need a contract (DPA). For example, if you have a virtual assistant that supports you with email marketing and segments your list, they are processing your client's data and you need a DPA. You can get one here.
- Collaboration Agreement - Imagine spending ages creating a training; the slides, the content, the filming time and sending it over to the person you're meant to be collaborating with, for them to say that they are pausing the launch on their offer for a few months. You had planned on the extra income and invested time to make sure your section was in place and then nothing comes of it. Or what if you collaborate with someone on a project and they keep more of the sales income because they deduct lots of expenses you hadn't agreed on? It's always best to have an agreement in place to cover off all eventualities. If you need one, you can get one by clicking here.
These aren't necessarily the most obvious documents but you must get them in place to protect your business.
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