The right contracts protect you and your business when the unforeseen occurs. If Jodie had the right contract templates, she could have avoided so many issues that compromised her business and her livelihood.
You step out of the house and glance up at the sky.
There’s not a cloud in sight and all you see is an ocean of blue. Joy fills your heart as it’s a beautiful day and you start the long walk to work. This is a wonderful chance to get some exercise on a beautiful day.
But you haven’t seen the danger that lurks just over the horizon. Just outside your view, there are dark clouds forming. And soon enough they start heading your way.
The sky grows darker as you keep walking. You tell yourself that you’ll be alright and that it won’t rain. After all, the sky was perfectly clear just moments ago.
Then, you feel the first drop of rain splash against your skin. And within moments, you’re caught in a deluge. The wind picks up, the rain batters your exposed skin, and the sudden chill catches you by surprise.
You start running, desperately looking for somewhere to shelter.
But there’s nothing to shield you from the storm. You’re soaked through, windswept, and very uncomfortable.
Life and business is uncertain – if you’re not prepared you’ll get caught in a storm.
…If only you’d brought an umbrella!
Now, you’re asking yourself what on Earth all of this has to do with legal agreement kits for business owners.
Simply put, many business owners don’t anticipate the storms that aren’t on the horizon just yet. When everything’s working well, you never think that the beautiful sunny day will end.
But it can – at any moment.
If you’re not prepared, the oncoming storm could devastate your business, leaving you behind to pick up the pieces.
You need an umbrella to protect you from the storms that you don’t even see coming yet. That’s where a legal contract kit can help.
How an Unexpected Death Derailed Jodie’s Business
A little while back, a client called Steve got in touch with RP Emery & Associates. He told us about a friend of his named Jodie who’d found herself in a bit of a business conundrum.
Over the course of several years, Jodie and a business partner, named Claire, had built a fashion brand. Claire handled the financial side of things while Jodie took care of the creative aspect.
Everything was going well and there wasn’t a cloud in sight for the business.
Then, tragedy struck…
Claire passed away in a motor accident.
This left Jodie in a difficult position. In addition to mourning the loss of her friend and business partner, Jodie now had to figure out what was next for the company.
And there was an added wrinkle to consider. Claire left her share in the company to her family in her will. So, not only had Jodie lost the financial mind behind the business, but she also had to deal with a new ownership structure.
Unfortunately, Jodie also didn’t have the finances required to buy Claire’s share of the business from her family. That meant the family was free to sell their part of the business.
Now the fate of the business is no longer in Jodie’s control. She’s in the centre of the storm and she has no protection.
This is the perfect example of what happens when you don’t have the right agreements in place.
Steve wanted to avoid finding himself in the same situation should something go wrong with his business. And it was with one of our legal contract kits that he found the documents he needed to protect his business.
What Is a Legal Contract Kit?
As a small business owner, you’re always juggling your budget. You have to keep a close eye on every expense to ensure you achieve a healthy cash flow.
This is one of the reasons why so many business owners don’t seek legal advice on how to protect themselves. You don’t see the problems right now, which means you can’t justify the costs of hiring a law firm to draft up some legal documents.
The entire process is too long and cumbersome. Plus, it costs a fortune in legal fees, which means you never end up doing it.
Of course, you come to regret it when you’re caught in the storm, just as Jodie did upon the death of her business partner.
If only there was a middle ground that allows you to protect your business without ridiculous expense.
That’s where legal contract kits come into play.
These kits contain contract templates that you can fill out yourself. Upon completion, you have a legally-binding document that acts as your umbrella in the storm.
The kit provides you with a legal framework that can be adapted to suit your situation. You get to draft documents quickly and efficiently, with no hassle or extra cost. And this means that you’re fully prepared for the storm that may be just over the horizon.
Jodie’s story above is a cautionary tale of what happens when you’re not prepared.
However, there are also pitfalls to consider when you do prepare. A poor-quality legal contract kit could leave you in hot water if the contracts don’t hold up.
That’s why it’s so important to know what a good kit should contain. These are the four qualities that your kit needs to have.
Quality #1 – Australian Lawyers Draft the Kit
Every country has its own set of laws to follow. That’s why it’s so important that an Australian lawyer drafts the kit that you purchase.
A lawyer from another country may understand the general premises of various Australian laws. However, they won’t have knowledge or experience with the intricacies that can catch business owners out.
Worse yet, they may apply laws from their own country that aren’t relevant in Australia.
Having an Australian lawyer draft the kit ensures accuracy, which means you can trust your templates.
Quality #2 – A Contactable Provider
You’ve bought your kit and you’re going through the templates. You understand most of what you’re reading but there are a couple of things you want clarification on.
So, you pick up the phone and call the provider…
And nobody answers.
Now, you don’t know if you can even trust the templates in your kit. With nobody available to go over the fine details with, you don’t know if they’re accurate.
Your kit provider has to make themselves available to discuss any issues that you have. If you’re not getting a prompt response to your questions, it’s time to find another provider.
Quality #3 – Simple and Editable MS Word Templates
You don’t want to get lost in a sea of legalese when you’re creating your contracts. You’re too busy to figure out what every legal term under the sun means.
You just want templates that are easy to understand and offer the protection that your business needs.
Of course, every template will contain some legal language. However, if you find yourself lost in legal jargon, that’s a sign that the template may not offer what you need. After all, if you can’t understand it, you can’t feel confident about putting your name to it.
Beyond this, any templates in the kit have to be easy to edit. You have to be able to add or remove information, rather than being locked into clauses or terms that you don’t agree with (which can sometimes happen with pdf contract templates)
Quality #4 – You Maintain Your Privacy
Do you really want to provide your confidential business details to an unknown, anonymous online business?
Do you really want to take that risk with your own private affairs?
Legal contract template kits that you edit on your own computer remove this risk from the equation. You have complete control over the documents that you create. That means an added layer of protection for your private information.
Choose an RP Emery Legal Contract Kit
Are you ready for the storm that’s hiding just over the horizon?
As a small business owner, you need to protect yourself from the business situations that you don’t see coming. At RP Emery & Associates, we offer legal contract kits that allow you to do just that.
Our templates are drafted by Australian legal professionals and they’re easy to understand. And if you do need some help, we make sure we respond to customer queries as quickly as possible.
It’s time to take control and protect your business.
If you have any questions, get in touch with our team today. And if you’re ready to go, find out about the wide range of legal contract kits that RP Emery offers.