Key Legal Documents For Every Small Business

Key Legal Documents for Every Small Business

Starting your own business is not easy. You will find yourself surrounded by a number of complicated documents before even starting, and naturally you will have questions. What is the point of this document? Does this one apply to me? These two are extremely similar: what is the difference between them? As such, I have prepared this checklist of legal documents and a short summary of what they are.

Business Registration and Compliance

1. Terms and conditions – a legally binding document that a client signs before using your services.
2. Company Registration Certificate – a form awarded by ASIC to confirm that your business is formally registered to practice in Australia.
3. Business Plan – your formal document outlining your path to growth including goals, strategies and financial projections.
4. Privacy Policy – document outlining how your company handles and safeguards clients’ personal data.
5. Non-Compete Clause – prohibits ex-employees from joining a competing company or starting their own business of a similar industry.
6. Business structure – how your business is legally structured including ownership, liability and tax obligations.
7. Constitution – outlines the rules and regulations of the business and its relationships with members, directors and shareholders

Contracts and agreements

1. Contracts – a legally binding agreement between two or more parties.
2. Employment agreements – an employment contract detailing the terms and conditions of employment
3. Shareholder agreements – a contract outlining the rights and obligations of shareholders,
4. Confidentiality agreements (NDA’s) – protects sensitive information by prohibiting someone from disclosing said information without permission.
5. Agreements between partners – the same as other agreements, but for partners.
6. Supply agreements – the terms under which a supplier will provide goods and services to a business.
7. Client agreements – outlines what a client should expect from your service to mitigate any legal disputes.
8. Incorporation agreements – an agreements between partners wishing to incorporate two or more businesses together, but as separate legal entities.
9. Vendor agreements – outlines the legal relationship between a vendor and a business.

If you have any questions about procuring legal documents for your business, please do not hesitate to contact me. I am here to help.