What I Wish Everybody Knew About Small Business Legals

Rise Up In Business

If used right, your legals can be the most powerful tool in your business but people still overlook them. All too often I hear people say they've been putting it off, waiting to see how their business goes. But here's the thing: your legal documents need to come to the top of your list right now because they can change the trajectory of your business journey.

When I talk about legal documents, I'm talking about the documents that you enter into with every person or party that you deal with in your business. Regardless of who you're dealing with, you need to have documentation in place for every one of those relationships.

If you have a team or are working with a contractor, proper employment agreements are a must. They ensure that roles, responsibilities, and expectations are clear for everyone involved. This can save you from potentially difficult and awkward situations down the line.

If you have business partners, a partnership agreement or shareholders agreement is essential. These documents establish the rights, obligations, and responsibilities of each partner and protect all parties involved. They can be instrumental in navigating difficult situations, such as a partner wanting to exit the business or disagreements over the value of the business.

Your legal documents have the power to set you up for long-term growth by providing a solid foundation for your business relationships. They help you build momentum and avoid unnecessary distractions. Having the right legal documents can also help you avoid ending up in court. Contract disputes, debt collection, employment issues, intellectual property disputes, and client disputes are just some of the legal battles you could be facing without proper documentation. Having the right agreements in place minimizes this risk and lets you focus on growing your business.

This episode will make sure you never underestimate the impact that legal documents can have on your business. By prioritizing your legals and having well-crafted agreements in place, you can unlock the power to set yourself up for growth, avoid costly disputes, and protect your business. Remember, prevention is better than cure when it comes to legal matters. So, take action today and secure the future of your small business.

LINKS:

Check Your Legals with the Essential Legal Checklist here

Check out my Getting Paid Made Easy course here

Website:tmsolicitor.com.au

Instagram:https://www.instagram.com/tmsolicitor/

Book a Strategy Session with me here