Terms and conditions
Your business needs effective terms and conditions of business:
- To ensure that your customers’ expectations and your legal commitments match what you intend to deliver
- To protect you from excessive claims
- To satisfy statutory requirements.
It is important to have these written specially for your business, and to use them in the right way, or they may not be effective. They may even make matters worse.
You may need trading agreements with other businesses, such as franchise agreements, distribution agreements and re-seller agreements. Documents presented to you by the other party will have been written for their benefit, not yours, and signing them without a legal review could have disastrous consequences.
Articles of association and shareholder agreements
A company’s Articles of Association are its internal rules. They describe how it works. They have a key role in protecting the shareholders’ investments and their positions in the business, but the standard Articles which come with a new company from Companies House are not generally suitable for this purpose and a bespoke document is often required.
A separate Shareholders Agreement may also be needed.
Without these documents, expensive and disruptive disputes are far more likely as the personal interests of the shareholders diverge over time.