{"id":1077,"date":"2021-12-30T03:28:10","date_gmt":"2021-12-30T03:28:10","guid":{"rendered":"https:\/\/uk.legalvision.com.au\/?p=1077"},"modified":"2025-07-02T00:42:19","modified_gmt":"2025-07-01T23:42:19","slug":"4-key-contracts-needed-startup-business","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/startups\/4-key-contracts-needed-startup-business\/","title":{"rendered":"What Are the 4 Key Contracts Needed for a Startup Business in the UK?"},"content":{"rendered":"\n<p><span style=\"font-weight: 400\">Every business is different. Therefore, the key contracts needed for your limited liability startup business can differ from other businesses. However, all commercial contracts generally allocate risks and responsibilities. This is because all businesses want to ensure they know what:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">is expected of them<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">to expect of the other party; and\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">happens when something does not go as expected.\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400\">In short, contracts help you obtain commercial certainty and limit liability.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">Therefore, depending on what kind of business you operate, what sector you are operating in, and how your business is structured, there are a few common contracts you as a start-up business owner will likely encounter.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">This article will outline four of the key contracts needed for a startup business. Each section will explain:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">what the contract seeks to do;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">who it is for;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">when you may not need the contract; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">key ideas to bear in mind when negotiating the contract.\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Agreements for the Supply of Goods and Services<\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">What is It?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">These are contracts between:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">you and your clients; or\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">you and another supplier, such as another company you purchase materials from.<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400\">Typically, each party will want to contract on its own terms. This is because the <a href=\"https:\/\/legalvision.co.uk\/startups\/4-key-contracts-needed-startup-business\/\">terms for the supply<\/a> of goods and services will generally be favourable to the party using the contract.\u00a0<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Who is It For?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">In short, every business, as you enter into a contract any time you sell a product or buy a service.&nbsp;<\/span><span style=\"font-weight: 400\">Therefore, understanding the terms of the contract will ensure you are certain about your rules and responsibilities.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Who is It Not For?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">Again, these contracts are for all businesses that buy or sell goods or services. Even if you do not have a written contract when you sell your product to a customer or purchase materials from a supplier, the law will imply a contract. Therefore, it is better to contract on your own terms.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">What Should You Negotiate?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">Most contracts for the supply of goods and services will have the following provisions:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">a definitions clause \u2014 this specifies words or phrases that may be open to interpretation;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">conditions precedent \u2014 this lists conditions that have to be fulfilled before the contract comes into effect, e.g. both parties having the right insurance;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">the agreement \u2014 this outlines who will provide whom with what and for how much;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">representations and warranties \u2014 these are statements made by one party to the other which are taken to be true (if they later turn out to be wrong, parties can seek legal action);\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">indemnities \u2014 where one party promises to pay the other party a certain amount of money if an unwanted event happens;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">limitation and exclusion of liability clauses \u2014 these can cap the amount one party will pay the other in the event of a breach of contract; and\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">force majeure clauses \u2014 this provision specifies what happens in the case of an unexpected event (e.g. a flood) that makes it difficult for either party to perform their obligations.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Employment Contracts<\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">What is It?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">Employment law is a separate area of law that determines the nature of the relationship between the employee and employer. However, an employment contract can refine and shape this relationship to a certain extent.&nbsp;<\/span><\/p>\n\n\n\n<div class=\"box box--icon box--info\">\n<p><span style=\"font-weight: 400\">The employment contract will specify what is expected of the employee and, in turn, what the employee can expect of their employer.<\/span><\/p>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Who is It For?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">Any company that plans on hiring employees needs an employment contract. This may include companies with only one employee, such as a startup, depending on what your role is.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Who is It Not For?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">If you do not employ anyone, you will not need an employment contract.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">What Should You Negotiate?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">Common terms in an employment contract include:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">salary and any bonuses;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">entitlement to any shares;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">contracted hours;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">who provides the tools and equipment;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">holiday entitlements;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">disciplinary and grievance policies;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">confidentiality or non-disclosure agreements;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">non-compete agreements; and\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">required notice periods to bring the contract to an end.\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<div class=\"box box--warning box--icon\">\n<p><span style=\"font-weight: 400\">Importantly, you should know that employees have certain rights that cannot be excluded, even if a specific employee agrees to it in a contract. <\/span><\/p>\n<\/div>\n\n\n\n<p><span style=\"font-weight: 400\">These include the employee\u2019s right to:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">ensure the employer observes its duty of care to the employee;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">the statutory minimum wage; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">the statutory minimum holidays.\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n\n<a href=\"#content-next\"\n   class=\"block p-4 mt-10 text-xl font-bold text-center text-white no-underline bg-gray-800 rounded-t-xl\">\n    Continue reading this article below the form\n    <i class=\"text-xl fa-regular fa-arrow-down\"><\/i>\n<\/a>\n<div class=\"px-6 pt-10 pb-12 mb-10 text-center bg-gray-100 rounded-b-xl sm:px-12 test\">\n    <div class=\"mb-8 text-2xl font-bold text-orange\">\n        Need legal advice?\n        <br>\n        <span class=\"text-lg not-prose\">\n                            Call <a href=\"tel:+448081968584\" class=\"not-prose\">0808 196 8584<\/a> for urgent assistance.\n                <br>\n                Otherwise, complete this form, and we will contact you within one business day.\n                    <\/span>\n    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It is between the shareholders in their private capacity.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Who is It For?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">Shareholders&#8217; agreements can supplement company law and grant shareholders certain rights and obligations that they would not otherwise have. Additionally, it can give unhappy shareholders an extra cause of action if they are treated unfairly. Rather than suing the company or company directors, they can claim against other shareholders.&nbsp;<\/span><\/p>\n\n\n\n<div class=\"box box--icon box--info\">\n<p><span style=\"font-weight: 400\">Shareholders&#8217; agreements are particularly powerful if you are a minority shareholder (i.e. you own less than half the company) because they can grant you rights you would not otherwise have.&nbsp;<\/span><\/p>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Who is It Not For?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">Typically, if you are the sole shareholder, you will not have a shareholders&#8217; agreement. However, as a matter of contract law, it is possible to have someone who is not a shareholder as a party to the contract, though this would not make sense in most commercial circumstances.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">What Should You Negotiate?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">Some common provisions that you may wish to negotiate include:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">promises that the shareholders will not compete with the company;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">restrictions on transferring or selling shares;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">the terms by which profits such as dividends will be shared;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">the conditions under which a shareholder is entitled to become a director;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">confidentiality agreements;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">ownership of intellectual property rights (especially if your startup is based around business ideas subject to copyright); and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">promises not to amend the articles of association without all shareholders\u2019 consent.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Commercial Lease Agreements&nbsp;<\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">What is It?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">If your business has its own offices, unless you own the underlying land and building, you will lease your office from a landlord. The relationship between you and your landlord will largely be governed by the lease agreement. At its most basic level, it evidences your right to exclusive possession of the premises, provided that you use them according to the terms of your lease.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Who is It For?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">Any business that is leasing its offices from a commercial landlord.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Who is It Not For?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">You do not need a lease agreement if you own your business premises outright or work from home. However, if you work from home, you must understand the terms of your residential lease to ensure you are not breaking the contract.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">What Should You Negotiate?<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">The main provisions of a commercial lease include the:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">term;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">rent;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">service charges;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">insurance provisions;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">repairs;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">alterations and improvements; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">assignment and subletting.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Key Takeaways&nbsp;<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">Contracts should be written to ensure both parties know their rights and obligations and the outcome if something does not go according to plan. While all businesses are different, most startups will enter into the following agreements at some point early on in their growth:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">agreements for the supply of goods and services;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">employment contracts;\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">shareholder agreements; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">commercial leases.\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400\">Therefore, you should understand what these contracts are, how they work, and their key provisions.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">If you need help with the key contracts needed for your startup business, our <a href=\"https:\/\/legalvision.co.uk\/contract-lawyers-lp\/\">experienced contract lawyers<\/a> can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today at <a href=\"tel:+448081968584\" class=\"AVANSERnumber dynamic-number\">0808 196 8584<\/a> or visit our <\/span><a href=\"https:\/\/legalvision.co.uk\/membership\"><span style=\"font-weight: 400\">membership page<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Frequently Asked Questions<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1640832867359\"><strong class=\"schema-faq-question\">What are the most important contracts for a start-up?<\/strong> <p class=\"schema-faq-answer\">Almost all businesses will buy and sell goods and services. This means your business as a startup will almost certainly need to enter into these types of contracts. Additionally, if your startup business hires any employees, they will have employment contracts. If you lease your offices, you will have a commercial lease. Finally, if there are other shareholders, it is common for startup shareholders to agree to contracts between themselves known as shareholders\u2019 agreements.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1640832874154\"><strong class=\"schema-faq-question\">What is the purpose of commercial contracts?<\/strong> <p class=\"schema-faq-answer\">Commercial agreements should prioritise certainty above all else. Therefore, you should know what to expect out of the other party, just like the other party should know what to expect from you. Finally, it is also important to be certain about what each party will do if something does not go according to plan.\u00a0<\/p> <\/div> <\/div>\n<div class=\"not-prose m-feedback-prompt\">\n    <!-- Thumbs up\/down bar -->\n    <div class=\"m-feedback-prompt__main\">\n        <div class=\"m-feedback-prompt__title\">Was this article helpful?<\/div>\n        <div>\n            <!--span class=\"m-feedback-prompt__button--text\">Thanks!<\/span-->\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--yes\"\n                    data-analytics-link=\"feedback-prompt:yes\" aria-label=\"Agree\">\n                <i class=\"fa-regular fa-thumbs-up fa-3x\"><\/i>\n            <\/button>\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--no\"\n                    data-analytics-link=\"feedback-prompt:no\" aria-label=\"Disagree\">\n                <i class=\"fa-regular fa-thumbs-down fa-3x\"><\/i>\n            <\/button>\n        <\/div>\n    <\/div>\n\n    <!-- Feedback form -->\n    <div class=\"m-feedback-prompt__form\">\n        <div class=\"m-feedback-prompt__form--thanks \">\n            <div>Thanks!<\/div>\n            <p>\n                We appreciate your feedback \u2013 your submission has been successfully received.            <\/p>\n        <\/div>\n        <form id=\"contact-form\" class=\"m-feedback-prompt__form--form\" action=\"\" method=\"post\">\n            <input type=\"hidden\" id=\"authenticity_token\" name=\"authenticity_token\" value=\"9eb4f72322\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/api\/wp\/v2\/posts\/1077\" \/>            <input value=\"https:\/\/legalvision.co.uk\/startups\/4-key-contracts-needed-startup-business\/\" type=\"hidden\" name=\"currenturl\"\n                   id=\"currenturl\">\n            <input value=\"What Are the 4 Key Contracts Needed for a Startup Business in the UK?\" type=\"hidden\" name=\"currenttitle\"\n                   id=\"currenttitle\">\n            <label>\n                <!-- display on thumbs-up -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--yes\">\n                    Can you tell us <span class=\"font-semibold\">why<\/span> you found it helpful?\n                <\/span>\n\n                <!-- display on thumbs-down -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--no text-lg\">\n                    How can we better improve this article?\n                <\/span>\n                <textarea name=\"feedbackmessage\" id=\"feedbackmessage\" required><\/textarea>\n            <\/label>\n\n            <div class=\"m-feedback-prompt__form--error\" id=\"form-submit-error\"><\/div>\n            <button id=\"submit-contact-form-button\" type=\"submit\" name=\"commit\" class=\"m-feedback-prompt__form--submit\"\n                    data-analytics-link=\"feedback-prompt:submit\">\n                Submit            <\/button>\n        <\/form>\n    <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Every business is different. Therefore, the key contracts needed for your limited liability startup business can differ from other businesses. However, all commercial contracts generally allocate risks and responsibilities. This is because all businesses want to ensure they know what: In short, contracts help you obtain commercial certainty and limit liability.&nbsp; Therefore, depending on what<a href=\"https:\/\/legalvision.co.uk\/startups\/4-key-contracts-needed-startup-business\/\">Continue reading <span class=\"sr-only\">&#8220;What Are the 4 Key Contracts Needed for a Startup Business in the UK?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":13461,"featured_media":564,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"4279,1001,1707,1747,4507,780","_relevanssi_noindex_reason":"","editor_notices":[],"footnotes":""},"categories":[31],"tags":[105,117,173,174],"class_list":["post-1077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups","tag-startup-founder","tag-startup","tag-startup-business","tag-commercial-contracts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>4 Key Contracts Needed for Startup Business in UK? | LegalVision UK<\/title>\n<meta name=\"description\" content=\"Are you looking to become a startup founder? 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