Business Contracts 101: 14 Common Business Legal Relationships

business contracts

In the normal course of business, all business entities must interact with other parties or institutions. All of these relationships are legal relationships that your newly formed business entity will create as it grows. Depending on the industry and entity type, the number, scope, and even names of these contracts can change. This can make it very difficult to know which contracts or agreements your business needs and which it doesn’t.

And yet you need to know because these relationships are vital to a company’s profitability and functionality. You can’t NOT work with your suppliers and customers! In order for the company to protect itself, its assets, its owners, and its employees, it must create legally binding, written contracts. Without properly drafted and executed contracts, you, your business, and your business assets are vulnerable!

Here is a handy chart that we’ve created to help you get acquainted with the 14 most common legal relationships your business will create in the normal course of business and the various noms de guerre for these contracts and agreements.

14 most common business contracts

Good Contracts Are Just Good Business

The business world is permeated by contracts. Poorly written contracts can cost a business hundreds of thousands of dollars. Understanding some of the basics about business contracts will help you grow and protect your business.

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Let Us Help You Protect Your Business!

Here at Alexander Abramson, we focus exclusively on business-related legal matters. Our attorneys have advised business owners and entrepreneurs for decades on all their commercial contract needs. We can help you define the necessary terms of a commercial relationship and ensure that those terms are included in a well-written contract that all parties understand.

We would love to speak with you directly about how we can help you increase and protect the value of your business. Call us at 407-649-7777 or email a team member to get started.

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