You at buying a lot of potential legal problems with this. Who owns the copyright to the story, to the essay, the publicity rights, trademarks, servicemarks, licensing rights, royalties. Errors and omissions liability. Privacy of information.
There are many special problems. Buying some template is likely to buy legal problems unless you're a lawyer and know how to tailor it. What business liveness do you need? What disclaimers? What insurance to cover what legal risks. You would make a big mistake to just use a form instead of an attorney.what you get in the way of general answers here is no substitute for good legal advice. See a business attorney for your own good, and that business attorney will likely call in an IP attorney for the IP issues if they are complex.
BOTTOM Line:There really is no substitute for sound legal advice. Using templates is a poor substitute at best.
I am not your lawyer and you are not my client. Free advice here is without recourse and any reliance thereupon is at your sole risk. This is done without compensation as a free public service. I am licensed in IL, MO, TX and I am a Reg. Pat. Atty. so advice in any other jurisdiction is strictly general advice and should be confirmed with an attorney licensed in that jurisdiction.
The liklihood that you would face any legal probelm hosting a contest for a one-time prize of $200.00 is very small.
But you should be aware that contest are governed by state laws and each state has their own way of handling these issues. Some states require a registration when the prize amounts reach a certain threshold (usually around 5k) for the year in aggregate.
Obviously, you also need to carefully consider the rules and these should always be considered carefully and comport with your needs specifically.
I would suggest that you discuss your plans with a lawyer in more detail. Most of us here, including myself, offer a free phone consult.
The law firm of Natoli-Lapin, LLC (Home of Lantern Legal Services) offers our flat-rate legal services in the areas of business law and intellectual property to entrepreneurs, small-to-medium size businesses, independent inventors and artists across the nation and abroad. Feel free to call for a free phone consultation; your inquiries are always welcome: CONTACT: 866-871-8655 Support@LanternLegal.com DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.