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Forum nameStartup Stew
Topic subjectRE: When is it crucial to have a "vendor contract" in place
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=119&topic_id=1501&mesg_id=1510
1510, RE: When is it crucial to have a "vendor contract" in place
Posted by hostingdiva, Mon Sep-22-08 10:17 AM
You should have a vendor contract in place before they start work - if they're alraedy started working, then you need to put it in place immediately.

The agreement should lay out pretty much everything - each parties (i.e., you and your vendor) responsibilities, milestones, payment schedules, rework guidelines, etc. You said you're going for a patent - are they going to own any of the patent rights? This should be specified in the agreement. I've seen many a times where this stuff was not specified and then both people claimed rights.....

Good luck!
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