Business Legal Forms Are the Backbone of a Transaction

There are a lot of forms used by businesses, most of the forms are legally binding documents and can be upheld in court. There are specific types of forms that are legal forms that are often used in business to protect the business from liability.

Some of these forms can include the following:
Indemnity Agreements
Contracts
Purchase Agreements
Incorporation Papers
Partnership Agreements

Indemnity agreements pass the responsibility on to another company or individual and leaves the company void of any responsibility, a good example for a need for an indemnity agreement is between a company and a janitorial company that is responsible for spills or to clear snow. If someone were to slip and fall on the property of the company than the janitorial company would be ultimately responsible for the injury and the cost of the medical bills.

Contracts are agreements between the business and the client/customer. These legally binding forms set out what is expected of each party.

Purchase agreements are used for acquisitions, to purchase goods or services and can also be called contracts. These are also legally binding forms that lock in a price for either goods or services.

Incorporation papers are the legal forms used when a business becomes incorporated.

Partnership agreements are legal forms that are legally binding forms between two or more people regarding the governance of a business entity.

The forms above are only a sampling of the legal forms that a business may use. Each of these forms can be generated by the business in a generic form than customized to suit the needs of the business. There are many resources for legal forms for business. They can be self created following legal form guidelines, they can be generated by an attorney and they can be purchased in a fill in the blank format. Purchasing legal forms from a stationary or office supply store is relatively inexpensive but is not often the first choice of a business unless it is a very small business. Most business owners err on the side of caution and keep and attorney either on retainer for such purposes as creating a legal form or they pay as they go, if they need a legal form than they will contact the attorney and pay for that specific form. Of course big businesses have a legal department in house that creates these legal forms, reviews all contracts and purchase agreements and typically handles any type of forms that have some sort of legal ramifications.