Copying contracts from the Internet is a bit like wearing your old cousins hand-me-down dresses . . . in order to walk into abees nest (an incongruous image, I know): yes, youre "covered," but the style is outdated and they usually do not fit you well. Plus, they will not provide you with the protection you absolutely need for your particular purpose.

Most small businesses can not afford the Versace of contracts, and, frankly, its almost always not necessary. Sometimes, Kmart will do nicely. However, when you download something for free of price , its usually value what you paid for it. Internet contracts positive need to be mended and altered to contruct sure they truly fit how you want to do business. But if you have limited knowledge in generating clothing, you risk having the garment unravel at the seams if you try to do it yourself.

In the interest of saving funds , you may have downloaded a
freebie contract from the Internet. But its often what you do not understand - and whats not included in the document -- that may hurt you. Internet contracts might be helpful resources for identifying issues for you to ponder, but are usually not well thought out, nor are they tailored to the needs of your particular business. If an agreement is not drafted in your favor, it can not give you the flexibility and protection that you really absolutely need from your business relationships.

For example, I know of business owners who have formed limited liability businesses (LLCs) and have downloaded their ownership agreements from the Internet. When "Jemma" got hers from a freebie Internet page , it looked long enough and comprehensive enough, so she and her co-owner (neither of whom are lawyers) signed it. Four months later, Jemma wanted to move to a different state to accommodate her husbands career pathway; plus, Jemma learned that she was pregnant. So the measure was right to transition to her new stage of life. But her LLC agreement only allowed her to leave the business (1) if she had died (which she hadnt) or (2) as long as her co-owner agreed (which she didnt). In short, Jemmas agreement had no meaningful "exit strategy." And Jemma did not understand that these we are among the issues she needed to focus on in building and signing such an agreement. There we are a whole host of things that the LLC agreement did not include, such as how to deal with the client base that each owner brought to the business, how to place a dollar value on the intellectual property that each owner contributed, and how to leave the business should life changes (other than Jemmas death) arise. Jemmas agreement didnt cover any of these issues. In the face of an irate business partner and an insufficient agreement, Jemma found herself staring down the barrels of (1) a lengthy and expensive lawsuit to dissolve the business or (2) a less expensive (but more costly than it needed to have been) way to extricate herself from her business partner.

Similar things may happen with even the simplest of contracts
with your customers. Download from the Internet all you like, but recognize that the document you copy (1) can not reflect the most recent changes in the law (how will you understand ? - ask a lawyer!); (2) can contain provisions that are harmful to your business (or omit ones that could help you), and (3) might not properly reflect how you want to do business with your customers. Internet contracts might raise some of the important issues, without a doubt. But they dont necessarily deal with the distinctive issues of your situation. In short, when downloading from the Internet: "one size fits all" usually means that "one size fits none."

How to avoid this pitfall: ideally, by working with an attorney
who really understands the legal issues that small businesses
face. Although some entrepreneurs might try to economize with a do-it-yourself approach, they almost always finish up costing themselves more because they are not trained, as attorneys are, to spot the issues and problems that may harm them. Taking the measure to find a lawyer who meets your needs is one of the best investments you will ever generate in the growth of your business. Find out more about how to hire and work with attorneys - and keep your costs down - by listening to the free of cost audio class available through http://www.WiseCounselPress.com. With the help of your lawyer, you may start to contruct the smart decisions that will protect your business and save you funds !