Why You Should Hire a Business Attorney Who Specializes in Contracts

It does not matter what type of businessyou run or whether it is big or small: you will need contracts to govern just about every relationship, transaction, or activity your business depends on. From the vendors who supply your precious capital goods, to the personnel you employ as you grow your company, you will need a contract that will both facilitate and protect your interests – and a Business Attorney from Jurado & Farshchian, P.L. that can help make it happen. Get the facts on contracts and how we can help.

The Types of Contracts a Business Attorney Can OfferIf your business is purchasing an office or commercial space, you will need a contract to govern the transaction and clarify such crucial details as the purchase price, closing date, and the duties of each party. Even if you are leasing your space, there should be a written agreement specifying the length of the tenancy, the monthly cost, additional fees and assessments, and other terms and conditions. In either instance, you want a qualified set of eyes to review the contract and make sure your company does not get stuck with a bad deal for months or years to come. If need be, our business attorneys can negotiate on your behalf for better terms.

If your business specializes in providing certain goods and services, you will need an agreement with the client to govern the transaction. Other contracts can include purchase agreements for equipment you will need, licensing agreements for intellectual property and franchises, employment contracts for staff, non-disclosure agreements and non-competition agreements to protect you once employees leave, and partnership agreements with your business associates.

While the specifics of these contracts will vary depending on the nature of the business, they all have in common one crucial feature: they regulate the relationship between two or more parties engaged in some sort of transaction or exchange related to the business.

Why Contracts Are Important
The reason you should regulate any and all relationships connected to your business is simple: you want to make sure that both parties know what is expected of them so that the transaction – and by extension your business – operates smoothly and optimally. More importantly, having a clear and comprehensive contract will preclude any potential ambiguities or areas of dispute: by laying out everything that is to be expected of both parties, there is less of a chance of anyone raising a credible dispute. In fact, contracts can include a provision that specifies how potential disputes will be handled.

Ultimately, neither party will sign a contract until there is a meeting of the minds: that is why our business attorneys not only know how to draft legally binding contracts, but also how to negotiate with the other side until a mutually agreeable – and thus enforceable – contract is hashed out. We will not let you sign any contract until we are certain all your bases are covered and there is nothing amiss that could potentially leave you open to a nasty and costly legal dispute.

What Every Contract Should HaveEven if both parties sign a document and call it a binding contract, it is not automatically seen as such by law. For a contract to be binding in a court of law, it needs – at minimum – an offer, the acceptance of said offer, and consideration (something of value being exchanged, be it money, a good, or a service). Ideally, your contract should address or include the following:

• What you will do or expect the other party to do
• What is the subject of the transaction (i.e. what is being bought or sold)
• The cost, when and how it will be paid, and by whom
• The length of the contract, including how and when it will end
• Indemnification (making good on any loss, damages, or liabilities incurred by the other party)
• Representations and warranties
• How disputes should be resolved and what remedies are available

The above list is far from exhaustive, and it will be up to your attorney to determine how the contract should look based on the specific needs and circumstances of your business. No matter the nature or complexity of the contract – or how well you know and trust the other party – every contract should be in writing. While certain oral contracts are technically enforceable by law, transactions of a certain length or exchanged value must be in writing. Even if situations where an oral contract is binding, it is always better to have things in writing to make sure there is no room for dispute or error.

Talk to a Business Attorney Who Specializes in ContractsOur team of business attorneys has extensive experience drafting contracts that protect both parties while establishing clear terms and conditions. We will take the time to understand the needs of your business and the nature of the relationship for which you need a contract. To learn how we can help you with your business law needs, call me directly 305-921-0440 or email me at [email protected].

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