A contract is a legally binding agreement that is typically drafted by a lawyer / an attorney who is well-versed with the area of law that the agreement deals with. There are various types of contracts that one might enter into with others (for example, a service agreement) and getting any of these drafted from an attorney might blow a hole in your pocket.
At WOLR, we assist you in drafting the diverse kinds of agreements based on your specific needs: The list of agreements we may assist you with includes but is not limited to:
- Service Agreement: A service agreement is an agreement entered into between a receiver of a service and a person/organisation who gives it. Common examples of service agreements include those entered into between the owner (person or company) of a particular premise/building and a housekeeping services provider. A service agreement lays down the terms and conditions of providing the service in question, the time period over which the services shall be provided, the consideration for the same, etc.
- Contract of Employment: A contract of employment is entered into between an employer and a potential employee laying down the terms and conditions, the description, the consideration, the time period, etc. of the job in question. There are a variety of considerations that need to be kept in mind when employing a person and entering into a contract is an effective way to keep things clear. For example, it is essential that an employee does not become a competitor of your company after learning everything he/she had to from your business; to remedy this, a non-compete clause needs to be added to a contract. Details like this one need to be kept in mind before making recruits.
- Non-disclosure agreement: A non-disclosure agreement is entered into by the parties where confidential/sensitive information about a business is revealed to one (or both) of the parties by another (or both of them), in the course of a transaction. It is inevitable that when you do business with someone, the other party receives or gives information that could be used by the competitors to get ahead in the race; so, it is essential that first what is confidential and what is not is defined. Then, it is important that the parties promise not to reveal the information that is agreed upon to be confidential. Finally, the conditions are laid down that describe what will happen in the event one of the parties reveals what is agreed upon to be confidential information. The various forms of non-disclosure agreements include a customer list NDA, an employee list NDA, financial information NDA, patent (invention) NDA, website design NDA, etc. and many more.
- Supply agreement: A supply agreement is entered into between a purchaser and a supplier of certain goods or services. Typically, a supply agreement is like a list of demands from the purchaser. The purchaser defines the type of goods/services that he/she needs, the quality expected, the quantity required, the time period within which it has to be delivered, the price, etc.
- Franchising Agreement: Do you plan on opening the next McDonald’s in your town? Or even better, maybe a Starbucks? To be able to do that, you will have to enter into what is famously referred to as a franchising agreement. The owner of the franchise will be the entity that owns the trademark or the trade name which makes the brand so famous across an area or to the masses. Through a franchising agreement, the owner gives the rights to use the brand name to sell certain products/services. Additionally, a franchising agreements helps cement the conditions under which the franchisee (the entity that is granted the permission) is allowed to operate using the brand name and business model (trademark or trade name) of the franchisor.
- Leave and License Agreement: A leave and license agreement is an agreement in which the owner of a property (known as the licensor in this case, since he/she grants the license) allows a licensee to temporarily occupy or use one portion of an immovable property. It might sound like a rent agreement but it essentially is quite different. Rent agreements and rent-related issues are dealt with Rent Control Acts of a particular State. And, Rent Control Acts are more so in favour of the tenants. A leave and licensing agreement on the other hand is governed by the Indian Easement Act (section 52 defines what a license is); it is stricter in nature and does not really favour the tenants. Which means, it is much better for an owner of a property to enter a leave and licensing agreement than into a rent or lease agreement.
- Memorandum of Understanding: Think of a Memorandum of Understanding (MoU) as a romantic relationship that might eventually bloom into a marriage – two parties lay down conditions for how they will co-exist and eventually, cement those conditions (with modifications, if required) with a legally binding document. A Memorandum of Understanding (MoU) is an agreement entered into between two parties laying down the terms and conditions that they propose to follow when working together. An essential feature of an MoU is that, unlike a contract, it is not binding in nature. An MoU is not legally enforceable the way a contract is. But, an MoU helps lay down conditions that parties may later on turn into a contract.
- IP Licensing Agreement: An IP license is granted by the owner of the intellectual property rights over an idea to another for the latter’s use, especially when the use is commercial. An IP licensing agreement is an agreement that these two parties in question enter into, and the terms and conditions of the use of the intellectual property is thoroughly determined. For example, when you publish a novel and if a producer wants to convert it into a movie, he/she will have to enter into a contract with you within which a very detailed set of terms and conditions will be laid down. That’s where we come in. There are many examples of IP licensing agreements that are commonly seen manifesting themselves in a lot of things around us. Movies, books, medicines, etc. – most of these have a complex agreement behind them that gives their creators a set of rights (and, of course, a lot of money, too).
- Consultancy Agreement: A consultancy agreement is entered into between a company and an expert who gives the company advice about a specific area of business. The consultant may be an expert on investment, or a solicitor, or even a person with a technical know-how about an industry. The consultancy agreement lays down the conditions under which the services of the consultant shall be rendered to the company. Various terms include the scope of the work of the consultant, the time period over which he/she shall provide his expert opinions, the remuneration payable to him, etc.
- Shareholding Agreement: A shareholding agreement discusses about the rights and obligations of the shareholders in the company. It outlines the description of the shareholding with the shareholder and thereby prescribes the privileges to be experienced and the scope of the extended responsibilities between the company, management and the shareholders.
- Partnership Agreement: Partnership is a form of a company. It is formulated between two or more partners and the partnership agreement discusses about their liability, profit sharing, and the ownership ratio in the company. It not only limits to that but it also discusses about the rights and duties of the partners when in force, and during the time of dissolutions as well.
- Mediation Agreement: Mediation is a method of resolving disputes between parties without causing a lot of inconvenience in the form of engaging in blame games; that is also how it is different from arbitration. The purpose of a mediator is to arrive at the best possible solution to a dispute by determining an outcome that is beneficial to both parties; an arbitrator on the other hand is an informal court of law where who was right and who was wrong is determined. To be able to appoint a mediator, the parties to a dispute have to enter into what is called a mediation agreement. And, to be able to draft a mediation agreement, the dispute in question needs to be described in great detail, without any prejudice of either of the parties creeping into the language.