With the current state of the economy many more people are considering going into business for themselves as consultants to major corporations instead of actually working for them. However, any time that you go into business for yourself there is always an element of risk. The consulting business is not an exacting science in which a specific product is being delivered for a set price. It is more of a service business and you will need to make sure you are covered by a contract before you start to work. You can use a consulting contract template to help you create the paperwork you need to protect yourself and your business.
Your first contact with a new client can be as simple as a phone call or even a casual meeting in a restaurant or on an airplane. You may discuss his ideas and start to form a working relationship with him. These are informal meetings and nothing about them can be considered legally binding or any kind of informal contract. Once you begin to move beyond this point, you will need to enter into contract negotiations with your client to ensure that you are going to be paid for your time and services. If you do not have a binding contract you may find yourself on the short end of the stick and not getting paid.
According to the laws in most states you can draw up your own contract on a blank sheet of paper, however if you have no experience in this type of paperwork you may find that this is not a very good idea. You could find yourself leaving out a very important point that could leave you unable to collect on the money you are expecting to be paid. When you consider how tough our current economy is, you cannot afford to have even one client get away with not paying you for the work you have done.
You will find that the Internet is the perfect place to download a consulting contract template that you can use to draw up your own contract. These templates provide you not only with the basic forms you will need, but often include instructions and tips that can help you create a very well thought out contract that leaves little room for misinterpretation and protects both your work and your intellectual property. You should never begin any type of formal consulting work without having a written and signed contract in place.