1099-NEC is used to report taxable income for individuals that are not directly employed by the business entity or individual making the payment. For example: contractors.
A Licensing Agreement is a written contract between two parties in which the Licensor (the person or the entity who owns or controls the intellectual property) grants another person or entity (Licensee) the right to use its intellectual property. Licensing Agreement allows the Licensor to make money from intellectual property without having to surrender ownership to the Licensee.
A partnership is an agreement between two or more parties to establish and operate a business, including each partner’s share in responsibilities, profits, or losses of the partnership. A Partnership Agreement can also help define how partnership decisions are to be made.
A cease and desist letter is sent to an individual or entity to have them immediately cease a continued action. This is common with a breach of contract action, like an employment agreement. It is sent when the other party has breached the covenants of a valid agreement.
A Non-Disclosure (NDA) is a confidentiality agreement that is used to prohibits one party from disclosing protected information (proprietary business information or trade secrets) to any outside parties. If the party violates the non-disclosure agreement, they can be responsible for damages.
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