As many people would know, start-ups are entities that require lots of time, money, effort, and dedication because of the number of tasks that owners need to face over time.
If you’ve been running your own small business for a while now, you’re probably familiar with the feeling of dealing with a mountain of tasks to accomplish so that the business remains open. From handling your marketing-related matters to taking care of different supply-related concerns, the mountain of tasks that lie ahead is nearly endless (and isn’t expected to let up anytime soon).
As you prepare your start-up and help ensure that it’s ready to start off with a bang, there is most likely a list of matters that you’ll need to take care of as you put the pieces together. Among the different tasks that you’ll need to handle to keep everything as operational as possible the moment you open your doors, there’s one that you should be looking into more than anything else: Organising your legal documents.
The importance of a legal organisation
One key reason many businesses end up closing shops and experiencing an extended amount of difficulty is that they fail to organise their legal documents as well as they should. In fact, some businesses remain unaware that they have to comply with such documents to the point where they only learn about them once it’s time to pass permits or pay for taxes!
Although taking care of your business’s documents doesn’t seem like such a significant matter to worry about, these pieces of information and sheets of paper will make a world of difference in how smoothly things pan out. Once you begin to delve deeper into the more technical aspects of your operations, you’ll see just how important it is to have the necessary documentation in place from the start of your business!
A checklist of documents to prepare
If you want to ensure that your business is compliant with various matters and regulations, it’s crucial that you actually have an idea of what papers you’ll need to take care of. Fortunately, you won’t need to go into the preparation process blind because we’ve got you covered with this comprehensive checklist:
[ ] Employment and Contractor Agreements
If your startup relies on more than yourself to stay afloat and remain operational, then you’ll need to prepare your employment and contractor agreements.
Typically, these documents are mandatory for any business that employs staff or outsources specific parts of their business operations to third parties. With these documents, you can lay out the rights and responsibilities that exist between you and your employees or contractors. In fact, employment and contractor agreements help clarify any details worth knowing because they establish the following details about your contractors and employees:
- The type of work they will be performing
- The duration of their services
- The salary they’ll be receiving (and any other entitlements or fees your startup will be paying)
[ ] Business Terms and Conditions
The business terms and conditions that you’ll need to draft and enforce are responsible for setting up the rights, obligations, and liabilities existing between you and your customers. Compared to other documents, this is the one piece that you can’t overlook because it forms the contents and clauses of any contract you provide (regardless of the industry your startup is operating in), such as:
- Refunds and returns
- Defects and damage
- Shipping and deliver
- Payment procedure
As a rising start-up in the complicated and highly-competitive world of Australian business, it’s critical that you make the necessary preparations to ensure that everything sails smoothly from the beginning. Through this checklist’s help, you’ll be able to ensure that your legal papers check out and that no further issues will pop up along the way as you move through the start-up process!
We’re a legal firm in Milton that specialises in servicing commercial law, brand protection, and corporate law needs of Australian businesses and entities. Get in touch with us today to learn more about how we can serve your legal needs!