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Common Questions From New Entrepreneurs

Common Questions From New Entrepreneurs

As a new entrepreneur, your primary goal is to get your new venture off the ground. You’re running high on excitement and riding that wave of inspiration - that feeling is unlike anything else.

BUT, before you hit the ground running, you’ll want to ensure you’re protecting all of your hard work with the right legal contracts in place. 

Today, we’re sharing a few common legal questions new entrepreneurs have and answering them in order to help set you up for success!

What contracts do I even need? 

While this depends on your business, a great place to start is by checking out our new “create your own kit” option on AWE Contracts. Select 2 of our lawyer-drafted contract templates and customize them to suit your needs while saving $$. We’ve got everything from NDAs to Influencer Contracts for Canadian entrepreneurs. We also have a list of 5 contracts you need as a freelancer, but beware of using free online legal templates - while it might save you money upfront, it could end up costing you big time down the road. 

How do I send a contract to be signed? 

We love streamlining our processes with digital tools, and the same applies to contract signing! We use signNOW, a cloud-based e-signature platform. All you need to do is upload your contract, add signature and text fields, insert your own signature, and send it off to your client (or clients) to sign. Just make sure both parties have the final signed version so that you’re on the same page with your obligations!

Do I need insurance? 

We believe it’s always better to be safe than sorry! That’s why we’ve partnered with Foxquilt to bring the AWE community tailored business insurance. By joining other AWE entrepreneurs, you have greater buying power together and will save up to 35% off your monthly business insurance premiums just for being part of the community! Foxquilt has also created a customized portal for AWE entrepreneurs to get quick quotes online so your business can be insured fast! Join the community here

What if my clients don’t live in Canada?

We get this question A LOT, especially for all those digital entrepreneurs! You can have clients/customers outside of your jurisdiction so long as it’s clear that your business is Canadian and that you have the proper terms in your contract stating the governing law and dispute resolution process. What we mean is that the contract is interpreted by and governed by Canadian law, and should there be an issue (always plan for the worst case scenario), any disputes or legal action must take place in your City or we opt for virtual mediation. This alleviates any travel costs for you and makes it clear that your contract is Canadian and ruled by Canadian law, despite wherever your clients may live. All of AWE Contract templates come with these terms, we’ve got you covered!

If you’ve got any questions about AWE Contracts or the legal side of your business, please reach out to us at hello@awecontracts.com or send us a DM on Instagram @awecontracts. We love helping entrepreneurs get set up properly from the get go!

*Disclaimer: this is not legal advice and is solely for educational purposes. For legal advice please contact your local lawyer.

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