Launching a managed services practice takes more than just knowing the technology and understanding the recurring revenue model. To stay successful, managed services providers (MSPs) must have an executable growth plan and a strong foundation that includes the right leadership, the right salespeople, the right services, and of course the right legal structures and documentation to build and protect the business.
Like it or not, successful businesses operate within a defined legal framework. Failure to understand that can lead to ugly disputes with co-owners and customers, financial distress, or even bankruptcy. To avoid any such outcomes, MSPs must work with an attorney to draw up contracts that address everything from the responsibilities of co-ownership to the details of service delivery, invoicing and collections.
Here are five legal requirements every MSP must stay on top of in order to be successful long term...
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