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A professional services agreement is established between an individual or company and a contractor providing services. Professional services span various industries, including lawyers, electricians, carpenters, financial advisors, and architects, typically requiring specialized licenses or certificates. In contrast, consulting is generally not categorized as a professional service. When hiring a contractor or gaining a new client, creating a solid contract is crucial. A well-defined agreement clarifies responsibilities, addresses questions, and minimizes misunderstandings in the business relationship. The video also promises a free template at the end for viewers interested in crafting an effective contract.
