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Consultancy Agreement
All about Consultancy Agreement
A Consultancy agreement is basically important to define the scope of work, time frame, commercials, tax implications and other important terms of the agreement between the service provider or consultant and the company or recruiter.
Sometimes it becomes extremely important to enter in to an written agreement with your service provider that not having the clear terms of agreement may land up to lost of ownership of product. For example in case you are planning to get your website or application or some technology through IT consultant without entering in to an agreement, you may have chance to loose your domain registration or ownership of your developed product.
Why important to enter in to an agreement
In many cases, when you are going to appoint any consultant to get your business work done, you must enter in to a formal agreement with your consultant. Following are the reasons why you should always have a written agreement:
- about its scope of work, it gives clarity over the understanding of project to both parties
- about the cost involved and its terms of payment like advance and intervals of subsequent and final payment
- confidentiality of your product is at utmost importance, which can be covered through NDA clause
- timeline is the most important aspect for any service recruiter, delay may cause huge losses and overall delay in project
- defining the ownership is most important in case you are going to develop any technology, which may be innovative
- ultimate deliverable needs to be listed before handing over any project delivery to cross check
- governing law and arbitration in case of any contravention of understanding is most important for both the parties
Why EzeeStartup
In our recommendation, any startup planning to kick start or running its regular affairs, it must enter in to a proper contract to safeguard its intellectual property, confidentiality and to cover up any future litigation due to non-performance or any reason.
Our expert attorneys can make customized and secured contract or agreement based on your specific requirement, which will be legally valid and can be challenged in the court of law.
Get in touch with us for the detailed information about drafting a perfect consultancy agreement