12 practical tips to master your contracting: Tip 1

In the run up to the festive period, we will be sharing 12 practical tips to master your contracting. For day 1 the tip is….

Contracts are highly regulated, but the regulations don’t cover everything

🚨 In the UK, there is a lot of legislation governing contracts. That legislation covers topics such as online selling, consumer rights, liability provisions, and the sale of goods and services.

🚨 You should not assume that the legislation in place is sufficient to protect your business.

🚨 For example, in the case of services, you might engage a supplier to develop a website or create something technical and assume you will own the intellectual property rights in the supplier’s output. In fact, the position at law is that the supplier will own the IP in the work it creates, unless you have a contract in place which says otherwise. Having a contract allows you to set out the terms of ownership and use of any new IP.