How to Write a Legal Description of Supplies

by Glenna Parks

Overview

Small business start-ups require much foresight and planning. You need to create a business plan, find clients and stock inventory. Smart business owners obtain insurance to protect themselves and their products. Insurance companies use product descriptions to replace items in the event of a burglary, fire or other disasters. Find out in the following steps how to write a legal description of supplies.

Step 1

List everything owned by your company, including personal and business property on site, inventory, computers, fixtures and office furniture. Detail each as to its current condition and usage.
Step 2

Determine the worth of each item listed. If purchased new, the item is worth the purchase price. If pre-owned or repurposed for your budding business, the insurance company will depreciate the item accordingly. Also list building and land values.
Step 3

Have the document notarized by a Notary Public. It would be wise to have your lawyer look over the document, as well.
Step 4

Submit the document to your small business insurer. It is likely a representative will contact you or investigate the worth of the items.

3
Paper and pen or computer Supplies Notary Public Lawyer (optional)
Paper and pen or computer
Supplies
Notary Public
Lawyer (optional)
Other insurance you may consider for your small business: general liability insurance, which covers on-site injuries or property damaged by employees, professional liability insurance, such as malpractice insurance and product liability insurance, which protects your company from claims made by clients.
Other insurance you may consider for your small business: general liability insurance, which covers on-site injuries or property damaged by employees, professional liability insurance, such as malpractice insurance and product liability insurance, which protects your company from claims made by clients.