Top 5 Essential Contracts for Small Business in Malaysia
Carrying your business operation without proper legal health-check can lead to a major headache especially when things go south. When running a business , you need to learn how to safeguard your business interest while maintaining good relationship with your stakeholders, employees, your customers/clients and even your competitors. he right legal documents are important especially when you need to put in writing something you have agreed with someone else. It sets down the full details of what has been mutually accepted as terms. If things go wrong, you can prove what was concurred between you and the other person.
These are our Top 5 picks for the most essential contracts:
#1 Business Contracts
This contract is usually prepared for when you enter into a business deal. It specifies the parties of the contract, their role and responsibility, rights and other important terms in carrying out the deal. Whether you provide services or sell goods, you can customize this contract with the terms you want for your business deal
#2 Service Level Agreement
The purpose of this agreement is to outline exactly what you will provide as a business or be provided by another company. This is to ensure that a service is properly delivered as agreed.
#3 Non-Disclosure Agreement (NDA)
As a company, a lot of information that you have are discreet and very confidential. Having employees/clients to sign an NDA before interviews or discussion, you will make sure that proprietary information doesn’t leave the building/meeting room.
#4 Employment Agreement
Use this agreement to specify the rights and obligations of all your full time or salaried employees
To know more about these agreements and what other agreements are useful for your business, do drop us a comment or reach out to us at firstname.lastname@example.org.
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