There could be any number of contracts that entrepreneurs need to have on deck. Here’s a short list of the major types of contracts you may need during the life of your business:

Independent Contractor Agreements: If you’re not ready to hire employees in your business, but still need someone else to do some work for you, an independent contractor agreement may be necessary. This will outline the scope of the work, payment options, and other things that you don’t want to leave open to fights later on. 

Employment Agreements. At some point, you may want to hire employees. When you do, getting the expectations on paper can protect all of the parties in the event that questions or issues arise.

Confidentiality or Non-Disclsoure Agreements. If you have valuable intellectual property or information that you don’t want others to share or publicize, these types of contracts will outline your expectations and what happens if the other party spills the beans.

Licensing

A licensing agreement is just a contract between multiple parties, where one party (the licensor) grants permission for the use/sale/manufacture of their intellectual property to another party (the licensee). A license allows the intellectual property owner to make money off of their creation, usually through a guaranteed minimum payment and royalties. 

Operating Online

If you have a website, you’ll want to set the rules for how visitors interact with you online and identify how you’ll use any information you collect from them (in fact, privacy policies are required by law under some circumstances). Having a clear Privacy Policy and Terms of Use Agreement will ensure that you do these things.