To operate a business properly, you need to plan, organize, control, and manage the resources of the company with the help of numerous documents, statements, and agreements. They will become the foundation for your business decisions and will allow you to record and later analyze every business operation you have been a part of. You will be able to set the goals of your entity and keep the records in order to demonstrate the legitimacy of all transactions to your shareholders and appropriate authorities. Our guide will introduce you to documentation essential for the business operations of any organization.
Business Operations: Contracts
- Business Contract. Whenever two entities enter into an agreement to exchange items or services for a certain sum of money, it is required to sign this kind of document to establish the main obligations of the partners.
- Business Purchase Agreement. If you have finalized negotiations for a sale and purchase of a business, complete this contract to govern the transfer of ownership from the seller to the buyer.
- Assignment Agreement. If you want to delegate transfer your rights and responsibilities under an agreement, you can find a party that wants to become an assignee and delegate all contractual obligations to them, once you obtain the consent of your original counterpart.
- License Agreement. See our library of templates to establish terms and conditions of a license under which one party grants another permission to use the property in exchange for a fee.
- Novation Agreement. This document is signed when an agreement between two parties is transferred to a new person or group. It confirms that the new party agrees to the stipulations of the original contract.
- Cooperation Agreement. A Cooperation (or "Corporative") Agreement is signed by two parties interested in working on a business opportunity or project together.
- Business Associate Agreement. This agreement defines what types of Protected Health Information (PHI) the organization will be managing, what it is given access to, and procedures to enact should a data hack occur.
Business Operations: Internal Processes
- Appointment of Representative. Draft this document to allow a particular individual to represent the interests of your company when dealing with customers and business partners.
- Invention Disclosure Form. This document will be useful for companies involved in science and engineering to create evidence of their invention and later submit this proof for patent protection.
- Meeting Agenda. Use this template to prepare for a conference or briefing session with your team and know in advance which issues to discuss.
- Meeting Minutes. When you have an official hearing or meeting, compose a written record of everything that was said during the event.
- Board Resolution. Whether you just start your business or welcome a new member to your board, create this statement to define the roles of every corporate officer and list topics on which you need to vote as a board.
- Letter of Intent. Compose it to outline your intentions related to a certain business proposal.
- Certificate of Incumbency. This form identifies all individuals who are allowed to represent the company and specifies their responsibilities.
- Annual Report. It provides information about the company's financial status and business activities to its shareholders and other concerned parties.
Business Operations: Miscellaneous
- Use Business Cards to introduce your business to new clients, advertise your services, and stay in contact with potential associates.
- A Press Release is prepared by the business with the intention to make an official news media announcement about new products or major company-related changes.
- A Change of Address Form is completed when a company obtains a new physical or mailing address to notify its business partners and various government agencies.
- A Notice of Closure is a sign created to tell the customers and counterparts that the store or office is going to close in the near future.
- A Business License Application contains a request to the appropriate authorities for a permit or license needed for the commercial activity of a company.
- Use a Memorandum of Understanding to list preliminary terms and conditions of the agreement between yourself and the party you're looking to work on a project with.
- A Contract Termination Letter will allow you to outline the conditions of the contract cancellation whether you have provided for certain courses of action in the original agreement or not.
Check out these related topics:
A EULA is signed by an individual or entity that buys, downloads, or installs software, and the licensor or owner of the software in question.
Under this agreement, the licensor is legally bound to grant the licensee the right to produce and sell goods or provide services under the brand name or trademark the licensor owns.
This is a contract signed by a photo owner (usually, a photographer) and an individual or company that wishes to license the use of their work.
This is a document presented to all shareholders to inform them about a shareholders' meeting that contains all of the topics that are subject to discussion.
This document represents an official record of everything that has been said or occurred during the meeting of community residents who make up a Homeowner Association (HOA).
This is a document that records and contains information about decisions and actions taken by shareholders during a business meeting.
This template acts as a written statement that is drafted to maintain an accurate record of everything said and every decision made during the meeting of a governing body of an organization.