WHAT TO WATCH OUT FOR WHEN SIGNING A BUSINESS CONTRACT
“We didn’t know it was missing – until we needed it.”
Tomáš, a small business owner, used a contract “borrowed from a friend” for a key cooperation. Everything looked fine – until the partner terminated it overnight. No notice period, no penalty. It wasn’t in the contract. And he was right. Tomáš lost a key supplier and a major client. All because the contract was incomplete.
Signing a business contract isn’t just a formality. A solid B2B agreement protects you only if it contains the right terms. What makes a business contract strong? What should never be missing? We cover the top legal points and the most common mistakes entrepreneurs make when signing contracts.
📋 10 essential elements of a solid business contract
Precise identification of parties: Company name, ID number, registered address – and who signs on behalf of the business.
Clear subject of the contract: What is being delivered or done, with detailed specifications.
Price agreement: Price, billing method, VAT, due dates, and payment terms.
Deadlines: Be specific – “monthly” is not enough. Use exact dates.
Liability and warranties: What happens in case of defects, delays, or breaches.
Contractual penalties and sanctions: What are the consequences of a breach? No penalty = no pressure.
Termination clauses: Can either side terminate? With notice? For what reasons?
Delivery and acceptance process: How do you confirm that work is complete? Use protocols or approval steps.
Intellectual property rights: Who owns the result – you or the contractor?
Applicable law and jurisdiction: Where and under what law will disputes be resolved?
⚠️ Real-life warning:
A businesswoman hired a developer to build an app. The contract said nothing about ownership of the final product. After payment, she discovered she didn’t own the app – she could only use it via API. Months of dispute followed, and the fix was costly.
✅ Lawyer’s recommendation:
In business contracts, details matter. Every word counts – and every omission can cost you. I offer professional contract drafting and review services, including discounted packages for regular collaboration or multiple contracts.
Planning to sign an important business contract? Make sure it’s watertight. I offer legal reviews and contract drafting for fixed prices – with special packages for ongoing cooperation. Don’t wait until it’s too late.
Contact a legal professional – I specialize in contract law.
Learn more here.
- Publikováno:
- Naposledy aktualizováno: 29/06/2025
Do you want to know more?
WHAT TO WATCH OUT FOR WHEN SIGNING A BUSINESS CONTRACT
Print “We didn’t know it was missing – until we needed it.” Tomáš, a small business owner, used a contract “borrowed from a friend” for