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 contracts lesson written for makers turned up, so this comes from the Services track, though its speaker works for a manufacturer; she says she cannot give legal advice, so use it to prepare your questions before a lawyer reviews a supplier or factory agreement.
Do this week
List what your factory or supplier agreement must settle, such as minimum orders, who owns the tooling and designs, quality checks and payment terms, and take the list to a lawyer before you sign.