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A professional services agreement is established between an individual or company and a contractor providing a specific service. Professional services can span various industries, including lawyers, electricians, carpenters, financial advisors, and architects, usually requiring specialized licenses or certifications. In contrast, consulting is generally not deemed a professional service. When hiring a professional contractor or onboarding a new client, it's essential to create a solid contract that addresses key questions, holds both parties accountable, and prevents misunderstandings in their business relationship. The video also offers a free template for creating an effective contract.
