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What types of contracts might a Moorestown business need?

For many, contracts can be the mainstay of running a business in Moorestown. Business contracts can be divided up into certain categories, depending on the purpose of the contract. Let us explore these categories.

Some contracts have to do with sales. These include a bill of sale, an agreement for the sale of goods or purchase orders. Warranties, limited warranties and security agreements can also be considered sales-related contracts.

Another category of contracts that may be a part of one's business dealings are leases. This includes not only leases for real property, but also equipment leases.

In addition, there are employment-related contracts. Of course, this includes employment agreements, but it also includes many other types of contracts.

These include independent contractor agreements, sales representative agreements, distributor agreements and consulting agreements. Other types of employment-related contracts are non-compete agreements, confidentiality agreements, reciprocal nondisclosure agreements and employment separation agreements.

Finally, there are general business contracts. Some examples of these types of contracts include franchise agreements, advertising agency agreements and settlement agreements.

Other examples of these contracts include covenants not to sue, releases, partnership agreements, business sale agreements and joint venture agreements. Other types of general business contracts include stock purchase agreements and contract assignments.

As one can see, there is a wide array of contracts to which a business can become a party. However, this increases the likelihood that contract disputes could come up. Therefore, it can help to consult with an attorney prior to entering into a contract. An attorney can help business owners understand the provisions of the contract, and can help ensure that those provisions are in the business owner's best interests.

Source: FindLaw.com, "Common Business Contracts," accessed on Dec. 17, 2016

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