Process of creating documents enlisting detailed instructions necessary to be followed by the parties entering into a contract could be termed as contract drafting. Contract drafting could be understood as different to other documents as it would require a proper use of legal terms and jargon.
Drafting could also be understood as a combination of art and science as there are various points which must be properly expressed or termed when creating a contract. Every clause, phrase, word, as well as punctuation mark in a contract could have serious legal ramifications, if not framed properly.
The Contracts and the agreements are the first step to be taken when starting any relationship in the corporate world. Hence, it is required that the contracts or agreements are drafted in such a careful manner that no loophole can be found in a contract which could be later used against the parties of the contracts.
A contract drafted carefully would help avoid a future liability or any unnecessary complexity presented during the course of the business. Lead India could help you with drafting as well as interpreting these contractual documents, as we not only help legal document drafting but also take all necessary precautions before a contract has been executed to ensure that the document is watertight and would not present any harm to you in the future. Therefore, if you wish to seek a document review lawyer, you may contact us.
Properly drafted contracts enable the company enter new market or help the company extend scope of business opportunities. A legal document would help you from preventing copying of any of its sensitive information or data by the competitors. Various contracts or key legal documents necessary for startups or businesses have been mentioned below-
Non-Disclosure Agreement
A company or even a startup has to protect its creative ideas, any new product crucial to the company or any other sensitive information important enough to maintain its competitive edge, or else such crucial information could easily fall in the hands of rival companies. A NDA or Non-Disclosure Agreement is a legal document which could help preserve such confidential information.
A NDA includes such clauses specifying if the confidential information has to be returned or destroyed or the process by which the destruction so mentioned should be done.
The contract would also include remedies or penalties in case there is a breach of contract.
Trademark
Trademark is the specific sign which could help differentiate between the goods of one enterprise from another. Trademarks are provided under Intellectual Property Rights. A registered name would help you secure your business by creating specific brand image with the passage of time.
As has been provided by the Ministry of Industry and Commerce, the Controller General of Patents, Designs and Trademarks will register trademarks in India, as mentioned under the Trademark Act, 1999.
Legal protection to the products of a company from being copied and fake products being sold in the market has been provided by registering a trademark, which when not done will greatly damage the product. A legal action can be initiated against a party in case it has copied your products or has been selling products under your company’s trademarks.
Employee Contracts
Various legal documents are required to be signed when employing a new employee. Employee contract is a document between an employer and his prospective employee which would define the various rights and responsibilities of employees employed by the company or owner of the business.
This employee contract would provide legal obligations as well as the expectations of the company and the employee in order to minimise any future disputes. The contract before employing will be helpful in case you wish to ascertain that the employed candidate would not leave employment too soon, or disclose any sensitive information related to your business with the competitors.
Non-competition clause- a separate agreement will be prepared for this clause or it can even be included in the employment contract as well. A non-competition clause, would forbid the employee from engaging in any business or operation in competition with the business of the company or services which are being provided by the company for a certain period of time as has been mentioned in the contract.
Draft Contract for employees will include role and responsibilities or the scope of work of an employee as well. It will also explain the role an employee is expected to play during the course of his employment.
Terms and Conditions
During a business transaction, one has to decide in advance the terms of doing the business with the clients. Say you are a supplier or a purchaser, it is important to have a contract containing the terms and conditions ready before finalising a deal.
The process for payment, delivery of the goods or services covered by the contract, any cancellation policy, or any other information necessary for a business agreement to be completed properly must all be included in the contract for terms and conditions.
The contract, therefore, will include liabilities and rights of the parties in case a negative situation arises affecting the business.
Why do you need to hire someone?
Legal contracts or other official documents are necessary when doing business, buying or selling real estate, or when negotiating an agreement or even for simple acts such as putting a property on lease.. Contract drafting is a legal task which plays a huge role ensuring that the terms of a contract, lease, authorization or any other detail mentioned in the contract are properly accounted for. A contract is only as good as its drafting, therefore it is important to appoint a contract review lawyer who could create a beneficial and legally binding contract without fail. You could seek assistance from experienced advocates with the advice of your friends or relatives or seek legal guidance online from lawyers. In case you wish to talk to a lawyer or seek free legal advice online, you may contact us at Lead India
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