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Undoubtedly, as a freelance contractor, you are your own boss. Despite this, or because of it, you have to put in more effort to get your business going. One such task involves being familiar with what all this means for your taxes. Additionally, it is also prudent for you to familiarize yourself with tools such as a simple contractor agreement. As seemingly insignificant as you might consider it, this tool could be the difference for your business, as you are about to learn below.
Freelancing is quite different from the normal 9-5 jobs. One difference is in the few face-to-face meetings, though this depends on the kind of service that you provide. For this reason, it is important to have a well-drafted simple contractor agreement to protect you. More than that, the agreement also protects your clients. That is not all, though. The agreement is highly effective at protecting your intellectual property too. To do this, you might need to hire a lawyer to help you draft a good agreement. Alternatively, draft one as long as you:
In the freelancing world, you could end up doing more than you should. Consequently, it is important to be as categorical as possible when drafting a simple contractor agreement. This piece of document defines your responsibilities. It lists everything that you would be doing for the client. With this out of the way, it then becomes much easier for you to go over and beyond what the client wants. However, without it, some “bad” clients could manipulate you into offering more without paying you extra for the additional tasks. Make sure that it:
Freelancers love to offer services that bring a smile on clients’ faces. However, that is just but one of the rewards of working as a freelancer. Other rewards come in the form of doing something you love and being paid for it. For this reason, draft a simple contractor agreement that covers your rates too. The agreement should state what clients are to pay you. That way, you leave no room for doubts. Crucially, it would be fine to ask if the client would be covering your expenses beyond your salary too. If yes, you must include this in the agreement too.
Lastly, you should remember to include a confidentiality clause too. It is essential in your freelancing business. Depending on your niche or area of expertise, it might be necessary to protect your trade secrets and inventions. The best way of doing that is by inserting a confidentiality clause in the agreement. Such a clause is not good for you only. It also protects your clients. After all, you might only be able to provide excellent service once clients grant you access to confidential files and information. Sign it to protect them!
Are you now ready to draft the simple contractor agreement? The information above should help you understand why such a document is crucial for the success of your freelance business. In some cases, lack of such an agreement could be the difference between a successful career and failure. Therefore, get this agreement ready to assure clients of your professionalism. Use it to keep their minds at ease, especially with clauses on confidentiality. Define your roles too to avoid a situation where clients take advantage of you without rewarding you properly!