Every business should have a set of legal documents that protects them. It’s not mandatory, but you would be crazy not to strongly consider putting these documents in place.

There are certain documents which will help your company grow and develop, and this article discusses a few of them.

 

1. Shareholder’s Agreement

A Shareholders Agreement is a contract between the shareholders of a company in which they agree how the company will be run. It sets out the rights and duties of shareholders and will often contain clauses prescribing the need for shareholder consent, regulating the sale of shares in a company and outlining what should happen in the event of decision deadlock.

 

2. Employment and Contractor Agreements

This agreement between Employer and Employee/Contractor forms the basis of their relationship. As the relationship is formalised in writing, it minimises the risk of uncertainty if in the future there is any disagreement.

 

3. Privacy Policy

A website privacy policy is a crucial online legal document, which provides data subjects with information on how a company collects and processes personal data through their website. This might include personal data given when a user signs up to a newsletter or purchases a product.

 

4. Customer/Client Terms and Conditions

The key commercial terms relating to the product or service you are offering should be set down in writing to ensure contractual certainly, confirm that each party understands their rights and obligations, and to avoid future misunderstandings. Think about important terms such as liability and termination.

 

 

If you’re a newly set up or growing business, we expect you’ll need commercial legal advice, such as setting up any of the above documents.

We know businesses can be hesitant to instruct lawyers and often attempt to deal with any issues themselves, only going to see a solicitor when they have a problem.

Engaging a lawyer from the outset will help you to prevent any challenges and avoid future risk, allowing you to focus on your business and save costs.

Our team at 2020 Business Law work with growing companies to make sure their business interests are protected.

Get in touch with us to find out more about our legal services or our retainer service, which provides you with a certain amount of legal advice per month.