Protecting Your Business in Contracts: A Real-World Guide for Entrepreneurs and Small Businesses
Video from North Carolina Bar Foundation. Watch on YouTube.
What you'll get
Elizabeth McKee, general counsel of a North Carolina manufacturer, explains for the NC Bar Foundation's NC LEAP program how a contract forms, which agreements must be in writing, and how purchase orders, invoices, vendor agreements and nondisclosure agreements work. No free lesson on co-packer contracts turned up, so this one comes from the Services track; she says she cannot give legal advice, so use it to prepare your questions before a lawyer reviews a co-packing agreement.
Do this week
List what your co-packer agreement must settle, such as minimum runs, who owns the recipe, who pays for a failed batch and how either side can leave, and take the list to a lawyer before you sign.