Free Independent Contractor Agreement
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An independent contractor agreement or contract is a document that is entered into by a company and a service provider who is not on the payroll of the company. The service provider can be hired to offer a specific or wide variety of services. These services may include consultants, contractors, programmers, marketing firms, writers and others.
It is important to have a properly drafted document so you classify the individual or company properly to avoid additional taxes and IRS penalties.
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The following are some of the key points of the independent contractor agreement:
1. The first section would have the names of the independent contractor and the company that are entering the contract. The date of entering the agreement would be mentioned too.
2. With this agreement, the contractor agrees to legally bind by the rules and stipulations mentioned in the contract and to provide services to the company in his fullest capacity.
3. The scope and duties of the independent contractor are mentioned in the agreement along with salary and compensation for his services and the term for which the agreement is valid.
4. It is the duty of the company to reimburse or pay for any expenses or costs incurred by the contractor in relationship to the services provided by him to the company. But the contractor will not be in any liable to pay for the conveyance or transportation expenses incurred by the contractor and that is something which has to be taken care of by him.
5. The work provided by the contractor should be in a very professional and structured manner and it is the duty of the independent contractor to update the company monthly on things about the project plans, progress reports and the results. The final result though can be submitted at the end of the project and must be given in a very confidential manner.
6. If during the contractual period, the contractor succeeds in inventing new things or concepts while rendering his services to the company, then that will be transferred to the company and they would become the rightful owners of that invention. The contractor can claim no ownership of the invention. This might sound a bit unfair but the logic is the invention happened during the project when the contractor was given an opportunity to work by the company.
That is why, as the company was the sole provider of the services, the invention is owned by company. And if in any way the contractor uses his innovations, inventions and discoveries in the current project which were accomplished by him before the project in some other project, then the license of those innovations should be given to the company by the contractor and the license would be non-exclusive as well which means the company can use them for its other operations.
7. There are many possibilities that the contractor might be exposed to the different trade secrets, tricks and confidential matters of the company while working closely with them and there are chances of the contractors revealing those tricks to the company’s competitors as well. In such cases while signing the agreement, the contractor must agree not to share or disclose the tricks and trade secrets of the company that they are working for and any violation on that front would result in serious consequences which the contractor would have to bear.