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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