Professional Contract FormationAfter reading the U.S. Small Business Administration (SBA) article, How to Create a Legally Binding Contract and reviewing the resources available at the Student Career Center, you will create a professional contract that contains the definite and certain elements as discussed in Chapter 6 of your textbook. Your contract will be written for your family-owned, small business. The agreement will be for employees to sign who wish to further their education while working for your company. Be creative, yet professional. The following components must be present in your contract. For each element you must demonstrate your ability to write clearly, concisely, and with advanced communication skills.Distinguish the type of contract (e.g. bilateral, unilateral) and include the six elements of contract formation. Develop the factors of time, tasks, goals, potential clauses, assignments, and restrictions into the contract. Use and define legal concepts by incorporating the legal terminology from your textbook where appropriate and relevant. Use academic or legitimate news sources, such as The New York Times, the Los Angeles Times, The Washington Post, CNN, MSNBC, Fox News, etc. Identify any ethical issues that exist in this alleged contract and result. Your paper should be 2-3 pages in length, not including the title or references pages. Include at least two academic or legitimate sources to support your findings.