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"Hello everyone, welcome to Coffee with Carl. I'm Carl Zellner, an attorney with Anderson Business Advisors. Today, let's talk about legal formalities in business agreements. Internal agreements within the entity should be formalized and treated as arms-length transactions to be legally binding. When dealing with third parties, it's crucial to ensure the agreements are structured like business-to-business transactions. However, there's a distinction when dealing with entities we control."
