Contracts in Computing by Varee Burade

All around the world even the smallest players within the IT sector have started formalizing their business by incorporating contracts in order to maximize their efficiency. While it is understood that India is largely an informal economy functioning on trust and little anything else, it baffles me that entering into a basic contract somehow automatically translates into a lack of trust. Whereas, in reality, contracts are the tool that clarifies, streamlines the intention of the parties, and therefore makes the entire process clear, transparent, and most importantly efficient, both in terms of finances and time(effort).

With this in mind, I would like to shed light upon a few basic contracts such as:

1. Employment contract
2. Partnership deed
3. MOU
4. Contract for Hire
5. License Agreement
6. Contracts for/of services,
7. Severance Agreement
8. Distribution Agreement
9. Consulting Agreement
10. Employee Transfer Agreement

In addition to discussing basics of contract and boilerplate clauses as well.