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When someone owns a business, they typically deal with many contracts and/or agreements throughout each day. For many of these contracts, there is no need to hire an attorney to draft or review them. The trick is knowing when it is and isn't necessary to have the aid of a business attorney.
There are several different factors to consider when negotiating and drafting a business contract that can help you decide whether or not an attorney is needed. Situations which typically do require the assistance of a business attorney include:
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When the language of the contract becomes too complicated. Attorneys are specially trained to understand laws and utilize language that is descriptive of any particular situation. Though this can be confusing to some people, it is essential in the writing of a clear and concise contract. If a contract is not clear in its meaning, then it can cause serious issues for the business owner if they find themselves in court. For example, if the contract wording is vague, then the courts will typically rule against the party who drafted it. Therefore, if you are unable to find the proper words to describe clearly what both parties are agreeing to, it is time to find a business attorney to assist you.
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If negotiations become heated. Another situation which calls for the engagement of a business attorney is when both parties agree that a contract is needed, but cannot fully agree on the terms of said contract. Attorneys are trained not only in the understanding of laws and the utilization of appropriate language, but also in negotiating and mediating various viewpoints, in order to find common ground and reach a mutually acceptable agreement.
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For long term contracts. Long term contracts, such as ones which span months or even years, need more consideration than those with a short fulfillment period. How would we terminate the contract? What happens if the contract is breached? Are there specific legal statutes which require or suggest that certain language be included in the agreement? These are only a few of the questions which need to be addressed when drafting a long term contract. Any time a contract is to have long-term effects, it is typically far more cost effective, not to mention time efficient, to retain a business attorney to aid you in drafting the document.
If you find yourself in any of these situations--don't hesitate, protect yourself and your business by hiring an experienced and knowledgeable business attorney.
The attorneys at Gehres Law Group, P.C. hope this information has been helpful and infrmative. If you have any questions or would like to obtain additional information or a free evaluation, feel free to contact us anytime at (877) 333-2420, locally at (858) 964-2314 or at [email protected].