We help our clients stop relying on oral agreements and strongly encourage others to put the details in writing as well.

With that said, we realize many of you want to know more about the type of agreements you can use to protect your business.

While there are too many to cover in one post, let’s take a look at 5 common contracts you cannot afford to ignore:

1. Non Compete Agreement

A non compete agreement is a contract between an employer and employee that prevents him or her from accepting a job with a competitor for a certain period of time. Employers have been known to use NCAs to prevent losing talent and trade secrets. However, the court can refuse to enforce a non compete agreement that includes terms that are not reasonable for the employee.

2. Non Disclosure / Confidentiality Agreement

A non disclosure agreement (also known as a confidentiality agreement) prevents another person or business from disclosing, copying and sharing confidential information. Similar to a non compete agreement, it can protect your most valuable trade secrets and processes but usually will not affect a former employee’s right to work with your competitors.

If you prefer confidentiality, get a non disclosure agreement signed before you turn over private business information to anyone.

3. Employment Agreement

Hiring a new employee can be an exciting moment for your growing business. But it involves much more than reviewing resumes, interviewing and picking a start date. You must nail down the job description, salary, bonuses, benefits, grounds for termination, severance package options, and a whole slew of other details.

Use an employment agreement to clearly specify the terms and conditions of the employee’s job so you’re both on the same page.

4. Business Lease

A business lease is a contract between a landlord and tenant that specifies the details of a rental arrangement. Because the terms will vary from property to property and landlord to landlord, it’s important to thoroughly review and understand the lease before you provide your signature. You can learn more about business leases here and here.

5. Partnership Agreement

Business partnerships can reap many rewards when all parties agree on the mission, goals and direction of the company. But when personalities start to clash and the parties are no longer on one accord, the once-promising partnership can turn into a messy fight over who gets what and why.

Before you form a business with a partner, consider investing in a legally binding contract that defines the nature of the partnership as well as the obligations and responsibilities of all partners involved.

Starting and growing a business is one thing, protecting it is another. Make sure you’re using ironclad business contracts that can stand the court’s scrutiny.

Next Steps

Grab a copy of our free guide – Business Contracts Basics : What Every Florida Business Owner Must Know about Contracts.

Then, contact our Fort Lauderdale lawyers to have your contracts reviewed by an experienced business lawyer. Call (954) 779-7009 or click here to email us.

If you do not have a business lawyer on retainer, you are not alone. Most business owners do not consider hiring a lawyer until they are faced with a specific legal problem or after they’ve been sued by another party.

An experienced and knowledgeable business lawyer can play an integral role in your corporation’s success. Here are four good reasons every corporation needs a business lawyer:

1. To assist with the start-up and organization of the corporation…

One of the best times to enlist the services of a lawyer is at or before the start-up of your business. A lawyer can help you evaluate the viability of your business idea before you invest any capital. He/she can also help you choose the best structure for your company, whether a limited liability company or corporation, and help you identify any potential liability or other legal issues you may face.

2. To keep your corporation in compliance with applicable local and federal laws…

There are laws that govern practically any and every action your corporation wishes to carry out. However, because most entrepreneurs that decide to start a corporation does so with little or no legal expertise, many corporations fail to comply with laws that are applicable to them and as a result, they face fines, lawsuits and other legal actions. A business lawyer can make sure you’re aware of the laws and regulations that are relevant to your corporation, and prevent you from taking action that will jeopardize your corporation’s success.

3. To properly advise and structure partnership agreements…

As with most business partnerships, there will be times when all parties will not agree on the operations of the business, management decisions, employees, or salaries. If you are considering starting a business with another person or entity, or entering into some type of partnership, protecting your interests should be one of your top priorities. With the help of a business lawyer, you can have a partnership agreement drafted that will layout and define each partner’s expectations. By clearly defining the roles, responsibilities and expectations of each partner, you can limit the presence of disagreements and potential conflicts.

4. To prepare ironclad business contracts…

An essential component of any business relationship is a written, legally-binding contract. In Florida, there are three components that must be present in a valid Florida contract. If your contract lacks any one of the three components, it may not be considered valid and enforceable. Thus, the terms of the agreement that were in place to protect you and your company, can be considered null and void, denying you the very protection you sought during preparation of the contract. A business contracts lawyer can protect you from this potential pitfall by preparing an ironclad business contract that outlines the terms of the contract and possesses each of the three elements required in the state of Florida.

As with any business endeavor, it is imperative that you put forth every effort to protect your business and non-business related interests. Waiting to hire a business lawyer can be dangerous for you and your corporation. In the event a problem arises, you can better benefit from the assistance of a lawyer that you have an existing relationship with; a lawyer that thoroughly understands the ins and outs of your corporation.

Why risk your Florida corporation’s success by foregoing a business lawyer? By hiring a Florida lawyer that specializes in business law, you are one step closer to building the successful empire you’ve dreamt of. While you focus on what you do best, your business lawyer can focus on helping you protect, defend and build your corporation.