If you’re currently starting a business or have plans to start a business, here are 5 important legal documents you need.

1) Business Registration:

You need to first establish a business entity by registering with the relevant company’s house either as a Business Name or a Company Limited by Shares. This legal status allows you to operate bank accounts as a business entity and make your customers more comfortable doing business with you.


2) Business licenses and permits:

Depending on the industry where you operate, you will need specific business licenses and permits to conduct business. You’ll also need permits from the city/state where your business is operating. Businesses selling products and services subject to certain taxes need to create a tax profile with the tax authorities.


3) Partnership Agreement:

This is a document that’s needed when two or more people start a business together. The document outlines each partner’s share of ownership including contributions, decision-making powers, etc.


4) Terms of service/privacy policy:

Terms of service and privacy policies are two of the most commonly prepared legal documents today especially for businesses with a digital presence. They govern the terms and conditions for people using a business’s website or mobile application. The three reasons you need the terms of service and privacy policy include defining the terms governing the use of your website, facilitating online payments, guaranteeing trust, and security of your website.


5) Trademark and other intellectual property right registration:

This process helps a business retain and protect all intellectual property rights created by the business such as its unique logos, signs, etc.

Source: https://www.zikoko.com/life/5-legal-documents-you-need-when-starting-a-business/