Protecting Yourself As A Website Flipper

October 9, 2009

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I’m sure by now, you’ve either encountered a website scam yourself or know of a “friend” that fell into the trap of those very convincing internet scams. Well, I just finished up a chapter on website flipping scams in the updated version of Flip-That-Site, and I know that not every one of our readers can afford our products and eventually just try to do website flipping on their own – only to run into more problems. So, I decided that I would share the resources I found that I felt all of our readers should have to protect themselves when buying and selling websites on the internet.

As with any business sale you’re going to want to protect yourself in the process.  We highly suggest contacting a lawyer to draw up your contracts to protect not only yourself but also your buyer (We have to say this – “we are not lawyers and can not give you legal advice.”) Here’s a list of contracts you’ll want to have on hand as a website flipper.

  1. Website Sales Agreement http://www.findlegalforms.com/product/website-sales-agreement/
    This is a contract that you would use when you sell a website. Having this agreement (prepared by an attorney) will help you protect yourself and your rights when selling a website. (You could substitute this agreement with a Bill of Sale Agreement – this one is just more specific to the details of a website).
  2. Asset Purchase Agreements & Sale of Business
    http://www.findlegalforms.com/forms/sale-of-business-forms/
    Business documents, legal forms, and legal agreements used when starting, operating, buying or selling a business for use in all states.
  3. Non-Compete Agreement
    http://www.findlegalforms.com/forms/non-compete/
    You may want to use this document when selling a high end site so that the previous owner doesn’t start up a duplicate site and compete against you after you purchased their site from them.
  4. Domain Name Sales Agreement
    http://www.findlegalforms.com/product/domain-name-sales-agreement/
    A contract for the sale of a Domain name. Having this agreement (prepared by an attorney) will help you protect yourelf and your rights when selling a website.
  5. Domain Name Assignment
    http://www.findlegalforms.com/product/domain-name-assignment/
    With this document you will transfer your rights as the domain owner to another party (the new owner).
  6. Website Design Agreement
    http://www.findlegalforms.com/forms/website-design-agreement/
    This contract provides the basic conditions, project parameters, consultation, updates, treatment of confidential information, the terms of payment for the designer’s services to the client and much more. It clarifies copyright ownership, liabilities and expectations of the parties.
  7. Website Maintenance Agreement
    http://www.findlegalforms.com/forms/website-maintenance-service-agreement/
    Provides the basic conditions of employment, service parameters, consultation, treatment of confidential information, the terms of payment for the consultant’s services to the client and much more. It clarifies copyright ownership, liabilities and expectations of the parties.
  8. Business Plans Business Plan Kits and Forms
    http://www.findlegalforms.com/forms/business-plans/
    If you’re looking to get any investors in on a business deal with you – a business plan is a must. This legal form kit provides the tools, guidelines and forms for developing and writing your company’s Business Plan.
  9. Intellectual Property
    http://www.findlegalforms.com/forms/intellectual-property/
    The internet has made it increasingly easy to duplicate another persons business. One way you have to protect yourself is through your internet property. We suggest reading through these intellectual property agreements, including intellectual property rights forms, reprint permission forms and intellectual property release forms, for all states.

Though you may not need all forms at one time I highly suggest at a minimum the Website Sales Agreement, Domain Name Sales Agreement, and a Non-Compete Agreement (if you’re moving into a niche and don’t want the chance of the seller starting up a competing site against you for your protection.

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  • mfarney
    There are so many methods to scam people online that it makes me think this was the purpose of the internet from the beginning. Thanks for the tips. I'll be more careful from now on.
    _______
    Mathew Farney - Web Hosting
  • You always learn something new :) I didn't know that all this wealth of info is out there on the net and not many of us newbies can really afford an atorney.

    Thanks for sharing such valuble information - this is the kind of info most other "Gurus" will charge for before parting with it.

    Justin and Chaunna, you guys rock :)
    .-= Zulfikar´s last blog ..10 Ways To Increase Your Blog’s Pageviews =-.
  • Justin, Chaunna...

    You guys ok?

    You haven't posted in a month! No Tuesday Twenty Minute Tackles (unless I just missed it)...

    What's up? I hope you're well!

    Chris
    .-= Chris Hunter´s last blog ..GREAT Article to Read! Knocking Out the Beliefs That Hold You Back * Get Rich Slowly =-.
  • It’s always better to be covered than sorry.
  • Hey Justin,

    Most of the information that I have learned about website flipping is all credited to your blog.

    These agreements information is really amazing, and I think this will surely help the people in preventing them from falling trap to such scams of website flipping.

    Thanks for this great information.
    .-= Ravi Kuwadia´s last blog ..5 Tips to Becoming a Better Leader =-.
  • Great docs Justin. It's always better to be covered than sorry.
    .-= LeslieZ´s last blog ..Free Video Training from IM Experts =-.
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