If you've watched The Sopranos you know one of the most sacred honors that bind this family organization together is trust. To become a member of this family you must prove yourself, and if accepted, cement this relationship through a blood covenant.
Afterwards your new family becomes your number one priority. Twenty-four hours a day. Everyday. And once you're in—there is only one human way out.
Your new family becomes the highest priority in your life. They become more important than your own family. You do everything the family leaders want you to do without question. Every action hinges on loyalty and trust.
How would this family handle a breach of trust? They have many solutions depending on the severity of the crime. And punishment is usually harsher than a slap on the wrist.
Yet in today's I, Me and My society people casually commit multiple breaches of trust. Relationships, partnerships and contracts are violated without an ounce of regard to the other party or to the consequences. Which creates overflow in the courthouses.
As honest business people I know we're in agreement when I say you don't want to become a victim of unscrupulous practices, jealous partners or the ever-common business parasite who bleeds your creative juices without compensation. This can happen to the best of us, and unfortunately, the perpetrator normally gets away without penalty. You can vent all you want at the Better Business Bureau, but they don't have a lot of teeth.
So how can you protect yourself from these kinds of business deal breakers?
Put everything in writing. This is your proof. Avoid oral agreements, as they can backfire on you. You don't want to be dragged into court saying, "But your honor, she promised me she would do..."
(Here's my disclaimer: I'm not an attorney and this isn't legal advice. Consult your attorney about legal documents and forms.)
Let's take a look at how you can protect yourself:
1) A proposal basically shows the potential client what you will do for her. It can include ideas, strategies, your fees and if approved—what the next step will be for both parties.
2) A work-for-hire credits you, the hiring party, as the author of a published work. If you hire a ghostwriter to write your book, a work-for-hire credits you as the author. Other variables may credit the actual author as the co-author or as the inspiration for your work.
3) A deal point memo is a pre-cursor to the actual contract. It summarizes everything in the contract and must be signed by both parties. This makes the contract crystal clear for both parties and saves the expense of lawyers' fees in case one party backs out at the contract signing.
4) A copyright automatically protects all your written works, expression of an idea or information regardless if you display the © symbol or not. A similar (P) inside a circle means Phonorecord and protects audio recordings. It's a great idea to file copyrights for revenue-producing products.
Many people ask what they should do if they see their published work pirated into different languages. Here's my take: you may lose lots of revenues, but you may also reach markets you never would have in record speed. I suggest you have signposts in your work that always point back to your phone number, your address and especially your website.
5) A contract is a legally binding agreement or promises between two parties. It basically details both parties' responsibilities, the compensation and what happens when one party backs out of the deal. You should include non-compete clauses, rights, waivers, warranties, arbitration and attorney fees. These are usually drawn up, or at least proofread by an attorney.
6) A signed audio/video release gives you certain rights to produce, publish and promote your recorded materials without compensating the participants. This is ideal if you give seminars and teleseminars, which you want to package into CD or DVD albums. You may bar individual participants from attending your event who won't sign this release.
7) A trademark ™ distinguishes its products or services from those of other entities. It adds a great deal of credibility and tells the world you stand by your products. It's typically made up of a name, slogan, phrase, logo, design or image. If your trademark is not actively used or promoted for a period of time, you may lose it due to abandonment.
In an ideal world, all we would need is to shake hands to complete a deal. If that's impossible due to long distance, your word will do. But this isn't an ideal world. Get together with your attorney to protect yourself from all breaches of trust.
Tommy Yan helps business owners and entrepreneurs make more money through direct response marketing. He publishes Tommy's Tease weekly e-zine to inspire people to succeed in business and personal growth. Get your free subscription today at www.TommyYan.com.
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Source: www.articledashboard.com
