contracts: is it mandatory

[Kitjaii]

hi guys ..i wanted to ask you a question regarding about contracts. In terms of writing contracts, is it mandatory to hire a laywer to write one, or can anyone (like myself) when dealing with business consulting.

For an example, if i were to help a business promite it's services (and i charge back a percentage of comission base on the sales generated).. what type of contract would i need? Would downloading a template on the internet work with a few modifications on it? let me know your thoughts. thanks!

[Gary Barzel]

You are not obligated to hire a lawyer when you write or sign a contract. I would suggest to you though that you consult with a lawyer before signing the contract. There are a lot of legal implications that you may overlook when you write up your own contract, and it's best to review it with a lawyer or at least a competent advisor that is knowledgeable in that area to know beforehand what you are getting yourself into.

[chanson]

We have a couple lawyers we use that offer us services for free because we are young entrepreneurs. I am talking basic stuff, especially advice. When we need documents done we sometimes also trade our services with them. There is lawyers out there(usually older) that like to help out the young business people within reason of course. Get out there and do some networking or ask some friends/colleagues.

[veikoh]

I remember a good story from the beggining of Estoian reconstruction period after our independence. So one emerging bank had emergency need for a software product, which we developed, delivered and trained people to us it.
Then I wrote invoice and after weeks went by, it wasn't paid. So, I contacted with my IT contacts there, they went to accounting and find out that meanwhile this bank had established a legal department so now we need to have a contract to get paid. So legal department had prepared a contract which stated that if we are unable to deliver a software based on specifications on promised period (what people are already using and are satisfied) we must start to pay them millions of damages each day even the value of contract was in few thousands.
Sure, obviously I considered it has SCAM and refused to sign such kind of cretinism. so I walked out promised to delete my software on every computer we installed it. But next day the bank security guy didn't let me in and invoice was paid within a days.