The 5 Essential Clauses Every Business Contract Must Have
To protect your business from costly disputes, every contract should include five essential clauses. These are: Payment Terms to ensure you get paid correctly and on time; Confidentiality to protect your sensitive information; Limitation of Liability to cap your financial risk if something goes wrong; Term and Termination to define the contract's duration and exit strategies; and Governing Law to establish which laws apply and how disputes will be resolved. Neglecting these core components can lead to serious financial and legal trouble.
2025.7.3/by lance