Contracts 101 for Freelancers & Small-Business Owners

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alexisgrant.com Contracts 101 for Freelancers & Small-Business Owners By Alexis Grant & Katherine Imp

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Webinar with lawyer and entrepreneur Katherine Imp, from AlexisGrant.com.

Transcript of Contracts 101 for Freelancers & Small-Business Owners

  • 1. Contracts 101 for Freelancers & Small-Business Owners By Alexis Grant & Katherine Imp alexisgrant.com

2. Connect with participants #alexiswebin 3. About your hosts KATHERINE IMPALEXIS GRANTLawyer & entrepreneurWriter & entrepreneur@KatherineImp@AlexisGrant 4. What youll learn today Why you need contracts What you should include in your contracts Types of business entities Reasons for forming a business entity Answer YOUR questions#alexiswebin 5. DISCLAIMER Legal advice is the application of law to an individual's specific circumstances. This webinar has been prepared for general information purposes only, is not legal advice, and is not to be acted on as such. Please consult your own lawyer for information and advice that is particular to your situation.#alexiswebin 6. Why bother with a contract? Enforceability issues, misunderstandings Memorandum of Understanding Letter of Intent Oral agreement Email exchangesVS. Contract Schedule A#alexiswebin 7. BASIC CONTRACT PROVISIONS#alexiswebin 8. Parties Terms/Deadlines Purpose/Services Indemnification Expenses Work-for-Hire Assignment Independent contractor Compensation/ consideration Choice of Law Entire agreement Breach Remedies Alterations (to Work) Modifications (to Agreement) Notice#alexiswebin 9. Independent contractor vs. Employee Right to control Exclusivity Tort liability Ownership #alexiswebin 10. Work-for-Hire Intellectual Property No WFH = No Ownership (Just a license, usually limited in scope and duration) The Work contributed by Contractor hereunder shall be considered a work made for hire as defined by the copyright laws of the United States. Company shall be the sole and exclusive owner and copyright proprietor of all rights and title in and to the results and proceeds of Contractors services hereunder in whatever stage of completion. If for any reason the results and proceeds of Contractors services hereunder are determined at any time not to be a work made for hire, Contractor hereby irrevocably transfers and assigns to Company all right, title, and interest therein, including all copyrights, as well as all renewals and extensions thereto. 11. Indemnification Fancy name for reimbursement Contractor hereby agrees to defend, indemnify, and hold harmless Company, itssuccessors, licensees and assigns, from and against any and all claims, liabilities, damages, costs, or expenses (including, without limitation, reasonable attorneys fees) arising from any breach by Contractor of any representation, warranty, covenant or agreement made by Contractor hereunder.#alexiswebin 12. NoticeOften underestimated! At a minimum Mailing address Phone or email#alexiswebin 13. Parties Terms/Deadlines Purpose/Services Indemnification Expenses Work-for-Hire Assignment Independent contractor Compensation/ consideration Choice of Law Entire agreement Breach Remedies Alterations (to Work) Modifications (to Agreement) Notice#alexiswebin 14. Alexis process for onboarding new clients Phone call to learn more about client Send client proposal (outlines goals, packages and fees) Contract Strategy Full steam ahead#alexiswebin 15. More tips from Alexis A few more things I like to include in contracts How long the client has to pay (30, 45 or 60 days) Any materials that will NOT become the clients if you sever the relationship Review of deliverables and fees at the one-year mark#alexiswebin 16. Where to find contract templates Hire a lawyer Pro bono organization Books (i.e. published by American Bar Association: Legal Guide to Independent Filmmaking) Unions and professional organizations: SAG, ASCAP, ASMP #alexiswebin 17. Should you become an LLC or Corporation? #alexiswebin 18. Why Form a Business Entity? Tax Implications, Personal Liability, ReputationSole ProprietorshipTypes:Partnership LLP LLC S-Corp C-Corp#alexiswebin 19. How to form an LLC Who you gonna call? Secretary of State 1.Articles of Organization 2.Operating agreement#alexiswebin 20. Questions? #alexiswebin [email protected] m @KatherineImp