Shownotes
Do you know that a well-crafted contract can transform your creative agency's success? There’s a clear difference between good and bad contracts for creative agencies. A well-drafted contract has customized legal agreements to mitigate risk and enhance agency business operations.
In this episode of The Agency Blueprint, I’m joined by Josh Barrett to discuss how to reduce risk with good contract drafting for creative agencies. Josh is a partner at Matchstick Legal, the leading business law firm for advising creative agencies and their owners. Josh founded Matchstick Legal in 2011, driven by a passion for helping creative professionals navigate complex legal landscapes.
Don’t miss this episode to learn the importance of having clear terms about intellectual property ownership in contracts, client obligations, termination rights, recognizing your negotiation power, and more!
Key Questions:
- [01:03] Could you share a little about Matchstick Legal, what your firm does, and your background?
- [02:40] What are your experience and recommendations on the risks associated with not paying close enough attention to the process of good contract drafting?
- [04:53] What frequency do you generally recommend that people review their contracts for contractors and clients?
- [12:20] What are some of the big things you see missing or not considered in agreements when reviewing them?
What You’ll Discover:
- [01:08] Josh describes Matchstick Legal’s specialized focus on business law for creative agencies, plus his background in the field.
- [03:02] The importance of good contract drafting and the risks associated with using generic templates without customization.
- [04:59] Why you should revisit contracts every 12 months to ensure they remain relevant, effective, and adapted to changes in the business environment.
- [06:22] The benefits of using plain English in contracts, making them more accessible and reducing the likelihood of disputes.
- [08:21] The pitfalls of lengthy and overly complex contracts often used by large corporations.
- [10:41] The importance of standing firm on key points to negotiate better client contract terms, plus Matchstick Legal’s "Report Card" service.
- [12:41] The common elements missing in agency contracts include intellectual property clauses, termination rights, and client obligations.
- [16:28] The importance of including a legal fees clause and clearly defining client obligations in contracts to deter bad actors and ensure project success.
- [19:31] Why you should recognize your leverage as an agency during contract negotiations and push for fair terms.
Connect with Josh/ Matchstick Legal:
Free Copy of The Practical Agency Book.
Real Life Agency Success Stories
Weekly agency tactics YouTube Channel
Profitability Accelerator Call - If you're looking to make a change today schedule your profitability accelerator call to define what is possible for your agency in the next 90 days.
