Risks that need to guarded against in business contracts
Your Project Company’s Contract Issues
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Consider the business you have selected for your term paper.
1. Review Key Business Contracts. What do you think will be the most important contracts you will need for your business? Why? What risks do you think you will need to guard against in your contracts (e.g. if a restaurant, getting fresh food in a timely manner from your distributors)?
2. Comment on the findings of two classmates.
Make it a substantive conversation of the issues being discussed. “I agree” or “I disagree” or similar phrases are not enough of a response.
Your initial post is due on Friday night by 11:55pm. This deadline is to give your classmates time to read your post and comment on it. Your comments on your two classmates’ posts are to be made on Saturday or Sunday (deadline is Sunday by 11:55pm). You will receive 3 points for each timely initial response and 1 point for each timely classmate response (for a total of 5 points). I will deduct for each late response.
Key Business Contracts
The following are just some of the contracts that a business will need to operate:
- Alcohol distributors
- Cleaning/Phone/IT/Credit Card
- Client agreements
- Client orders
- Employee handbooks
- Equipment acquisition
- Equipment maintenance
- Finance agreements
- Food vendors
- Intellectual property agreements
- Key employee agreements
- Logistics (transportation)
- Manufacturing representatives
- Material Suppliers
- Membership contracts
- Product suppliers
- Online sales
- Real estate leases/acquisition
- Service agreements
- Software licenses
- Talent (bands/singers)
- Talent acquisition
- Vehicle leases/acquisition
- Waivers of liability