If you do not know an estoppel from an easement, you need a competent attorney to help you draft business contracts. Even if you can separate an exemption clause from an exclusion clause, having an attorney with you to create a business contract adds an extra layer of protection and confidence that your business will not suffer from a costly legal oversight. In today’s competitive market, contract lawyers are essential in drafting business contracts.
Just for Contracts?
You need not hire an attorney only to help with your business’s contracts. Indeed, by retaining a law firm to assist your company in all areas, you increase the efficiency and security of your day-to-day operations. Ideally, one firm should be able to provide your business with:
- Entity formation
- Patent applications and intellectual property rights
- Stockholder agreements
- Personnel issues
A sufficiently large, multi-faceted law firm with a deep bench of talent can help your business when unexpected opportunities or emergencies arise.
Especially for Contracts!
Drafting contracts favorable to your business while maintaining ethics and fairness for the other party is complex. You can be assured the employee, vendor or client has their own lawyers checking the contract you offer; make certain it is on solid legal footing before presenting it to the other party. Make certain your own contract lawyers have examined the contract.
Many business contracts today depend on so-called “boilerplate” clauses and sections that have been slightly modified from the expected wording to benefit one party. A typical issue is the pervasive, subtle shift to arbitration, often at the cost of preserving a company’s right to sue. Only business contract lawyers will take the time and perform the due diligence needed to check every paragraph, sentence, clause and word of that “boilerplate” to protect your company's rights.
Remember your business is not exclusively creating contracts for employees, suppliers and clients to sign; you often have to respond to contracts created by others. Getting these contracts reviewed by experienced attorneys greatly simplifies your decision-making.
Available to Help
Hiring contract lawyers should be convenient to you. Are their offices nearby? Do they answer or return your telephone calls promptly? Do you have sufficient resources to devote to your needs?
Contracts can mean success or bankruptcy to your business, so lawyers you engage should convey a sense of the grave responsibility they bear. If you do not personally connect with the team, you will not feel well served. A successful relationship depends on the law firm valuing you and the business you own and doing all it can to protect that business.
A business contract can be many things to many companies. A good team of contract lawyers has experience across the wide range of contract law:
- Intellectual property
- Buying and selling
- Construction bids and contracts
- Letters of intent
- Non-compete agreements for valued employees
Your goal in hiring lawyers for your business is to anticipate the many varieties of contracts your business may need as it grows and prospers. Leaving business contracts to do-it-your-selfers is a sure way to leave your business vulnerable to gaps in contracts that could spell disaster for your dreams.