Transform your legal agreements to lead to opportunity in legal agreements

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what legal documents do you need when you're starting a business you're starting maybe a side hustle or even going full time with something you want to make sure you're doing it the right way [Music] well the first thing we recommend is setting up an LLC with an operating agreement and you can check out one of our videos on how to do that now the next thing is making sure that you have documents in place to protect you and your business so I'm gonna pull up a slide here we're going to go to which ones you need all right here we go we've got the legal documents there's kind of three different buckets here the owners people that you've hired workers and then customers and clients so we're gonna switch back and forth here so for owners you just need an operating agreement that means even if you're a single member LLC I still want you to write in 100 owner and sign it so that there's never an issue about it it also establishes the formality of the LLC being separate the second scenario is you're working with other people and you have multiple owners let's say there's three of you or two of you you really need to dive into that operating agreement potentially hire a lawyer to make sure that you're asking questions what happens if someone leaves how do we break a you know a vote if if we're all disagreeing you know if we want to raise money or take on debt or start a new brand or whatever it is or sell the company we want to talk about these things early on when we're all excited you know uh you know on the same page rather than coming back to it all right let's go back to our slide so workers these are you know you're going to need an employment agreement and or an independent contractor agreement so what are these scenarios it's uh an employee we're hiring someone full time they don't work for anyone else really but us we want to lay out those terms same thing with an independent contractor let's say you've got someone added in your podcast or creating graphic designs so important things you want to have in there are clauses like IP assignment you know work for hire so if someone is designing or editing or cutting my podcasts or videos or YouTube videos I want to make sure that they are assigning all those rights over to my business aside from that you also want to be clear on you know what the deliverables are what the expectations are particularly with independent contract you want to say this is what I expect and this is when I expect it and that way they can look at it and agree and y'all will have a nice meeting of the minds you can also consider things like non-solicitation which is a really useful thing with independent contractors let's say you've got an agency model you're a marketing company and you're working you know you've got a social media manager that that works for you and they develop a relationship with a client well you want to have a closet set in there that says I'm paying you to serve this relationship if you leave or we stop working you can't then poach you know my client uh all it is is protecting the business and just making sure you're able to grow without having to worry about you know poaching or being undercut or something like that it's a very useful thing most people feel like it's pretty fair and it is fair you pay someone to develop a relationship and that should be honored again there are things like non-competes and other stuff you can you can consider and put in there but it's really important you get everything on paper so you can you know show that you own the IP and if there's a non-solicitation or other other Clauses like that you know it's easy to prove all right our last little bucket's a big one customers and clients all right you see I've got two in there it's client service agreement so you know let's take the marketing your social media manager you want to have an agreement that outlines everything you're going to do for them and how much they're going to pay you in return if you have a product you want to have uh you know terms of use some sort of terms of of service of them taking it on but it's not just that it's also let's say we're uh you know an Instagram account we have disclosures we have to make if someone sponsors us so there's you know privacy policies you need to be compliant about uh there's you know your website terms of use don't you know it's all defamatory you don't use uh you know Stone copyrights things like that you know you also want to consider disclaimers so if you're a podcast talking about nutrition all you want to do is disclaim basically the reality of the situation which is we're trying to give you really good helpful information we have different guests but we don't know your health history so it may not apply to you just like I'll tell you right now I am a lawyer but I don't know your business I'm trying to help and I hope this video is very helpful for you but this is not customized advice to you particularly this is general advice that I hope you can use and Implement of course so that is my disclaimer they don't have to be obnoxious they can just be built in but usually on like a podcast you'll see on our website drafted legal has a disclaimer that just says that you know it's not trying to disclaim every single you know thing it's just creating the limits of my ability to serve you which is I can give you general information but unless you hire us as a law firm or use drafted legal templates then there's no real relationship other than me trying to provide helpful information same with your podcast or your website you weren't talking about how to say I'm not a you know a physician or I'm not your physician that sort of thing we usually recommend I've got you know several young kids it's almost like you don't want to assume anything you want to explain very clearly what you are doing and what you aren't doing and it can be done in just a couple of sentences so that kind of goes through we'll recap real quick what what documents we need all right we've got owners if we've got multiple ones we need operating agreement that's fleshed out a single member just you know get uh show that we have 100 uh for that it's a this is operating agreements for an LLC if you have a corporation it will be you know bylaws or shareholders agreement for anyone you hire we want an employment agreement or an independent contractor agreement depending on which one they are and then for customers a lot of this is some of it's compliance but then any uh anytime someone's buying something from you they need to sign on to your turns which may limit your liability or warranty or refund that sort of thing or if it's an ongoing service agreement you want to outline uh all those terms as well how about your costs how do you cancel that sort of thing and then you just want to consider your disclaimers your disclosures your website policies you know waivers of liability that sort of thing so that's kind of a general overview of where you would start I hope that doesn't feel too daunting you know it these are just the people you were interacting with and what we like you to to have is just a very clear meeting of the minds of oh this is the deal uh you don't you know when people get into speeds we find that the two people who were in the dispute both think two different things were agreed upon so we want to make sure you're real clear so if you're patting someone you know 15 an hour for graphic design we want that to be clear because sometimes we've had multiple conversations or texts or email particularly with clients let's say one you know cancels a session what do we do about that uh is there a 24-hour cancellation rule but if we have policies and terms laid out it's very helpful to make sure that expectations are good and that everyone is very happy and that your relationships go smoothly so you can go to draftedlegal.com we've got all sorts of templates and you can file have llc's filed for you by that website so we hope this helpful drop some comments below if you've got any questions the best of luck [Music]