Most managers see contracts as documents to sign. The best managers see contracts as executable strategies . Every contract should answer four questions:
Indemnity is a promise to cover the other party’s losses if a third party sues them based on your actions. For a manager, unlimited indemnity is a poison pill. Negotiate: business law for the entrepreneur and manager pdf
Never operate a high-risk business as a Sole Proprietorship if an LLC or Corporation is an option. The cost of formation is tiny compared to the cost of a lawsuit. Most managers see contracts as documents to sign