In this episode we are interviewing our very own Peter Bronstein to talk about contracts, lawsuits and how to protect yourself and business from lawsuits. Peter walks us through a variety of different contracts and how to choose the correct one for your needs. He discusses the most important things that a business needs to be aware of when starting out, and the different types of attorney’s there are. Tune in for some great legal tips! These tips are for information only, please hire an attorney to help ensure your business is set up for success. 

IN THIS EPISODE:

• [9:04] What are some of the most important things that a business needs to be aware of when they’re starting out?
• [15:30] Why would you need a contract in your business and what are the different types of contracts?
• [19:06] What is an attorney fee clause?
• [28:25] How can you reach Peter for legal assistance?
• [30:15] Do you need a certain type of attorney to support your business? 
•  [30:47] How do contracts differ and can you use a generic contact you find online?

KEY TAKEAWAYS:

• People’s biggest mistake is they think if they own the business and they’re the only owner of the business and it’s a corporation LLC, then they can just go ahead and pay for everything they want because it’s their personal account. You can’t do that.
• There are written contacts and oral contracts. Both are valid the majority of the time, but you do have more bargaining power if the contract is written out and signed by both parties. 
• If you cannot afford an attorney to create a contract, at the very least write down everything you want in the contract and make sure it is specifically stated. Include what the transaction is, what the most important part of the deal is, what money is being exchanged, what terminates the contract etc. 

LINKS MENTIONED:

Attorney Peter Bronstein’s Website

Ask Brien Podcast