We subscribe to the Wise Counsel Press newsletter, which often has some useful tips for entrepreneurs. This month's issue has an article called, "Why Home-Based Businesses Need Contracts, Too!" Of course, it all boils down to protecting yourself, but the three key points are that contracts do the following:

• systemize your business
• help avoid lawsuits
• ensure payment
  For more advice on legal matters, check out the Wise Counsel article archive.