Essential Contracts Every Memphis Business Should Have

Running a business in Memphis means relying on agreements that govern how you hire, sell, partner, and grow. Without the right contracts in place, you leave your company vulnerable to disputes, financial loss, and legal risk. At Mitchell Law Firm, we help Memphis-area businesses create, review, and enforce critical contracts so you can focus on growth—not litigation.

Why Contracts Matter

Contracts aren’t just paperwork—they define rights, roles, and responsibilities when things go right, and they protect you when things go wrong. Especially in Tennessee, vague or incomplete agreements often lead to costly litigation. Having the right contract upfront can save time, money, and stress.

Core Contracts Your Business Should Have

• Vendor/supplier agreements – Whether you’re buying raw materials or outsourcing services, a clear supply contract protects your business from delays, mis-performance, price escalation, and quality issues.
• Service agreements – If you provide services (consulting, maintenance, logistics, IT, etc.), you need to clearly define scope, pricing, payment terms, termination, and liability.
• Employment or independent contractor agreements – Hiring staff or contracting with freelancers? You should spell out non-compete or non-solicitation clauses (if enforceable in Tennessee), confidentiality, termination terms, and compensation.
• Operating agreement/membership agreements (for LLCs) – If your business is an LLC, the operating agreement governs member rights, voting procedures, profit sharing, and what happens when someone leaves or dies.
• Shareholder/Buy-Sell agreements (for corporations or multi-owner businesses) – A buy-sell agreement sets the rules for transfers of ownership, valuations, and what happens upon the death, divorce, or bankruptcy of a shareholder.
• Non-disclosure agreement (NDA)/Confidentiality agreements – Protecting trade secrets, client lists, or proprietary processes is crucial. A tailored NDA helps you maintain confidentiality.
• Sales/Purchase contracts – Whether you’re selling your product or buying one, the agreement should address delivery, defects, warranties, indemnities, and jurisdiction (especially relevant in Memphis shipping/logistics).
• Lease agreements for business premises – If you lease space in Memphis, the lease should address maintenance obligations, renewal rights, liability, insurance requirements, and default provisions.

Mistakes We Commonly See

• Using off-the-shelf forms with blanks still to fill (often leaving key terms undefined)
• Not updating contracts when the business grows, changes owners, or enters new lines
• Over-reliance on verbal agreements (hard to enforce in court)
• Missing provisions about dispute resolution, jurisdiction (important in Shelby County or Tennessee Courts)
• Neglecting to negotiate terms when signing vendor/supply contracts—many businesses accept “take it or leave it” and later discover they have little leverage

How Mitchell Law Firm Helps

Our Memphis business law team reviews your existing contracts, advises you on weak spots, drafts new tailored agreements, and negotiates on your behalf. We know the local court rules, business climate, and risks central Tennessee and Mid-South companies face. By getting the contract right upfront, we protect your bottom line and give you peace of mind.

Call to Action

If you haven’t reviewed your contracts in the last year, now is the time. Contact Mitchell Law Firm at (901) 268-6740 or visit jmitchlaw.com to schedule a consultation. Your contracts should support growth—not hold it back.