08. Custom Service Contract or Contract Template: Which is Right?

Want to start protecting your online business, but don’t know which way to go? In this video, Yasmine breaks down the difference between a custom service contract and a contract template. Investing in a lawyer-created contract template can be a smart and cost-saving decision for your business. Using a template designed for businesses similar to yours can provide comprehensive protection without expensive lawyer fees, which is something all entrepreneurs should aim for in the early stages of business!

Customizing the template based on instructions and then having it reviewed by a local attorney ensures compliance with local laws and addresses specific legal issues. Additionally, a one-time consultation with a local business attorney can help spot potential legal issues and provide peace of mind for your business.

Key Takeaways:

• Contracts are crucial to have in your business as they can provide a much-needed layer of protection
• Customer service agreements and contract templates are both lawyer-created
• Investing in a lawyer-created contract template can save costs compared to hiring a lawyer for custom contracts.
• Customize the template based on instructions and have it reviewed by a local attorney to ensure compliance with local laws.
• A one-time consultation with a local business attorney can help spot potential legal issues and provide peace of mind for your business.

EPISODE TIMESTAMPS:

00:00 Introduction

00:25 Contract Templates vs. Custom Contracts

00:37 Service Agreements

01:37 Why contracts are secure

01:52 Service Agreements may not be the best fit

02:11 What’s the best approach?

03:03 Consulting an attorney

03:53 Outro

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Disclaimer (because, duh): The information presented in this podcast and on any affiliated platforms are for educational, informational, and entertainment purposes only. Consuming this content does not create an attorney-client relationship. If you need legal advice pertaining to your particular situation, you should consult directly one-on-one with an attorney.

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