Bad contracting: three common pitfalls when entering into contracts

In brief - Don't sign a contract if you don't understand it and get advice if you need it

Make sure you get everything in writing, don't assume that a standard form contract is in your best interests and don't let anyone tell you that a contract is not negotiable.

Getting contracts right is one of the most important skills in business

If you run your own business, you enter into contracts all the time. Whether you realise it or not, contracts are a major part of what your business does day to day. You entered into a contract when you leased your premises. You entered into a contract when you purchased your stationery. You entered into a contract when you hired your first employee.