To prevent abuse – A ToS agreement is a legally binding contract between your site and your users. It sets guidelines that users must agree to in order to use your site or mobile app.
To protect your intellectual property – You can legally protect your logo, content, graphics, etc. from theft or misuse.
A limited liability – This limits the websites owner’s liability if services are used for unintended purposes.
Sets the governing law – This refers to the jurisdiction of the stated terms. It is determined by the city and state of where your business is registered.
So how do you get a ToS agreement for your site? You may want to start by using a Terms of Service generator.