Having a Non Disclosure Agreement (NDA) is a smart move for any small business owner. You might need to share confidential information that you don’t want shared with many different business relationships that you have in place.
– Your employees might have access to company secrets, intellectual property, future strategic plans, customer pricing, and many other pieces of information that you don’t wish to have shared.
– Your business partners or investors where you are sharing financial information and your future plans.
– Your banker where you are sharing financial information including the debt and equity information.
– Your customers or suppliers who you are sharing information with on pricing, marketing tactics, and other information that allows you to be a good strategic partner with them.
– Anyone else that you share confidential information with that you don’t want to become public information.
If you want to have an NDA, you can learn more about them and download a template here: https://clausehound.com/
Thanks to Cobalt Lawyers (http://cobaltcounsel.com/) and ClauseHound (https://clausehound.com/). The information provided may not be relevant to your jurisdiction, this information is not a substitute for obtaining legal counsel, nor does it create a lawyer-client relationship with you, the reader.
Small business owners need to know how to protect themselves. A contract is not designed for when the two parties agree, but for any potential time when they don’t agree. That is the key!
In this 25 minute video we focus on sales and vendor contracts, but contract best practices in general. What are some of the clauses and what should be paid attention to? The specific clauses that we walk through are;
1. Parties of a contract
2. Description of the product or scope of services
3. Fees and charges
4. Tax responsibility
5. Rejection or acceptance of the product
6. Warranty period and exclusions
7. Payment terms, due date, interest rates
8. Customer promises
9. Vendor promises
10. Limitation of liability
12. Dispute resolution mechanism
Contact the Expert
If you have more questions and need more specifics, please contact Rajah Lehal directly!
Starting up your own business is not as hard as you think.
This video walks through the critical logistical steps you need to be taking to get started.
1. How to select and check your business name?
2. Business location
3. Sole proprietorship vs. corporation
4. Registering for HST, Payroll, WSIB
5. Protecting your intellectual property
6. Taking your business online
7. Get Started!
Business valuation is critical for all small business owners as there is a high probability that you will be needing to evaluate how much your business is worth due to needing a loan, going through a divorce, or selling your business either voluntarily or involuntarily.
When it comes down to it, the value of your business is the price that someone is actually willing to pay you for it. But if you are trying to put a dollar value on your business without this step or before this step, there are some things to consider;
1. Net tangible assets
2. Identifiable intangibles
3. Goodwill (transitioned and non transitioned)
4. Redundant assets
If you are selling your business, there are some great ways to increase the value of your small business. And there are some specific value drivers to be aware of.
If you are buying a business, there are some specific details you should be looking for and specific circumstances where you may buy a small business for a lesser amount.
Taxation is a tricky world for most entrepreneurs. How to get started? What tax should you be charging? How does this change by province or country? How and when to remit taxes? What types of rebates are available?
Taxation can be a scary topic, but it is inevitable. So it is better to understand what is required upfront.
What will you learn in this video?
– When to register for HST
– How to do it
– Methods of filing
– Filing periods
– The process of filing and how to do it
– A list of issues that you may encounter and tactics to overcome them
Find out from Denise Robertson, from Mills and Mills LLP, what the top legal concerns are and how to prioritize your legal dollars to protect yourself from the most amount of risk. Tons of details and lots to think about all wrapped up in 30 minutes.
What to expect?
Find out what the top 7 legal concerns are
Discover tons of little details to be aware of
What are the top 7 legal concerns?
#1 – Business Structures
#2 – Working with Others
#3 – Contracts and Written Agreements
#4 – Protection of Intellectual Property
#5 – Premises
#6 – General Liability
#7 – Estate Planning
Keeping up with your taxes and bookkeeping can feel like a full-time job. Especially in the first few years when the learning curve is steep on what to do and what you shouldn’t do in regards to your paperwork.
Jeff Dessau, a Chartered Accountant with over 25 years experience in Canada, goes through what is critical to saving money as an entrepreneur.
Want to learn more? Contact the subject matter expert;