Most Common Types of Contracts Business Owners Deal with in Dunedin, Florida

Dunedin is home to a vast number of businesses that help support the busy tourist area. One type of business that Dunedin has a lot of is those who run small businesses. There are many different types of small businesses in Dunedin, and each contract can be unique depending on the type of work being done and what needs to be covered by the contract.

If you are starting a business in Dunedin, there obviously has a lot of contracts to deal with. And therefore, it is better to seek the legal assistance of a Dunedin commercial litigation attorney. Business owners in Dunedin will find themselves dealing with many types of contracts throughout their lifetime. Still, with careful planning and evaluation, any business owner can easily deal with all of their legal obligations.

We will now see into different types of contracts business owners have to deal with in Florida.

  • Service and sales contracts

These types of contracts are basically two parties of a transaction agree to conduct business. The term for a service contract is called “Service Agreement,” and for a sales contract is called “Sales Agreement.” 

  • Agreements covering intellectual property

Intellectual property refers to ideas and creations of the human mind. Business owners can protect their intellectual property through agreements. After protection, they can also earn profit from their ideas or creation. Some contracts that business owners need to protect intellectual property are the “Nondisclosure Agreement,” “License Agreement,” and “Invention Assignment.”

  • Letters of intent

This type of contract is used to create binding agreements even before the agreement is signed. Letters of intent often contain certain conditions that need to be met in order to complete the business transaction. A lawyer can be highly useful in drafting the letter and making sure all conditions are met.

  • Cease and desist orders

These are written orders that order a person or company to stop doing something harmful. Business owners often need to file a cease and desist order against a competitor who has been harassing them. The legal handling of this process depends on the type of business and how serious it is with the other business owner.

  • Loan agreements

Loan agreements are used to create legal obligations for a lender and a borrower to adhere to certain rules and regulations. This type of contract should be read carefully by both parties, as they contain the rules that they are legally bound by.

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