Businesses deal with contracts every day. Contracts for the sale of products or services, the purchase of materials or services, commercial leases, equipment leases, software licenses, independent contractor agreements, confidentiality agreements, letters of intent, teaming agreements, joint ventures and other types of strategic alliances. The variety is seemingly endless.
A successful business needs high quality, well-drafted legal documents appropriate for your company and the particular deal you’re working on. Many companies rely on standard form, or “boilerplate,” agreements, only to discover to their peril later that those agreements have unintended consequences that prove very costly to their businesses.
Good Contracts — And Bad Ones
Improperly drafted contracts can cost companies a significant loss of time, money, and damaged relationships. Contracts protect your company’s interests – and understanding the meaning and impact of numerous contract clauses is essential to ensuring you are making the deal you intended to and both parties know what to expect. Good contract drafting, appropriate for the transaction, also facilitates good business relationships and prevents unwelcomed surprises. A well drafted contract considers the contingencies (the “what if’s”), ensures the parties are on the same page, mitigates unspoken assumptions, and goes a long way to preventing disputes later on. Disputes, that frankly are often avoidable.
Know Your Risks
Often times too, your business is faced with negotiating the terms of the other party’s contract. Negotiation is an interchange of “gives” and “takes.” What terms should you care about? What do they mean? I work closely with my clients to ensure they understand each term and how relevant it is or isn’t to the circumstances of the deal. I work with you to mitigate those risks that are important to mitigate and understand the consequences of risky terms that may remain. Armed with this knowledge, you’ll understand your agreement, what to do to preserve the deal, and how, through other business practices, to mitigate risk.
Contract Drafting and Negotiation
I take the drafting of any contract seriously as I have seen the consequences of poorly thought out and drafted agreements — unfortunately I have worked with clients who found themselves dealing with problems that a sloppy or inappropriate contract created for them. Also, it is critical to your success to ensure the contract for the sale of your product or service is in harmony with the underlying contracts you have with your suppliers.
With many years of experience in drafting and negotiating high quality contracts, from the simple to the highly complex, you can rest assured that you will know the agreement is suitable for your business and what the terms mean. You will also know that all the interrelated agreements are consistent and designed to ensure you will be successful with your customers.
When you need help with contracts, you can be assured I will provide you with excellent, relevant, comprehensive legal advice and with high-quality agreements at an affordable price.
I welcome you to contact me to discuss your legal needs with regard to business contracts.