🚫 Myth: Contracts Are Just Formalities
Some believe contracts are just fancy paperwork that nobody ever reads. The truth? Contracts are your business's safety net, detailing rights, obligations, and expectations.
Let's debunk some common myths and misconceptions that might be holding your business back.
Myth #1: Contracts Are Always Full of Legalese 🧐
Reality: Contracts don't have to be mind-numbingly complicated. You can write clear, concise agreements that everyone understands.
Tip: Focus on plain English and avoid unnecessary jargon.
Myth #2: Verbal Agreements Are Just as Good as Written Ones 🗣️
Reality: While verbal agreements can be enforceable, they're much harder to prove in court. A written contract provides a clear record of the terms agreed upon.
Tip: Always get it in writing to avoid the "he said, she said" scenario.
Myth #3: Intellectual Property Is Only for Big Companies 🏢
Reality: IP is crucial for businesses of all sizes. Owning and controlling intellectual property is required if you want to turn your expertise into scalable recurring revenue.
Tip: Use contracts early and often. Contracts play an essential role in protecting your IP.
Got more myths for us to bust?
Send them our way, and as always, IP is FUEL 🚀
Erin