In Pursuit of Profit
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When business owners hire third-party accounting firms to manage their finances, they may be provided with an engagement letter. This type of document is new to many business owners, especially those that are outsourcing financial functions for the first time.
Essentially, an accounting engagement letter is an agreement to provide services to a client. The agreement describes the business relationship and sets expectations for both parties in a way that is less formal than a traditional contract.
Once reserved for large corporations and technology pioneers, non-disclosure agreements (NDAs) are becoming more common across all business types, sizes, and industries.
In an era where business trust is at an all-time low, even among fellow companies, businesses are using NDAs both internally and externally to protect their interests. Daliah Saper, intellectual property attorney explains,
The Economic Census is the U.S. Government's official five-year measure of American business and the economy. It is conducted by the U.S. Census Bureau, and response is required by law. The survey will be delivered to the estimated 4 million businesses (small, medium and large) across the country. Information collected includes: company’s physical location; primary business activity; sales, receipts, or revenue; employment and payroll; and industry-specific questions.