A company contract is an official, legally binding agreement between two or more parties outlining their rights and responsibilities in a particular business relationship. It serves as a reference to both parties on what each is obligated to fulfill within the scope of their contractual obligations. Company contracts can range from simple short-term agreements to complex long-term contracts that can span multiple years. Businesses use contracts to protect themselves and ensure they are able to carry out their commitments while also receiving things in return. A well-crafted contract helps build trust and strengthen relationships in the business world.