It is always good business practice to review your business contracts with an experienced business lawyer. Whether it is an old contract that you have been using for years or a new contract, hiring a business lawyer is good practice to outline the contract basics such as the duties of each party, the rights of each party, relevant dates, relevant prices, relevant quantities, and payment terms. You will also talk to a small business lawyer about contract terms such as warranties, disclaimers, limitations on liability, liquidated damages, confidentiality provisions, indemnification agreements, default, arbitration clauses, and governing law.
You will be surprised when you find out the small business lawyer cost is not going to break the bank. The contracts that you take will gain from having a business lawyer in Howell review these documents is of course priceless because the purpose of the contract will be met and you will avoid any assumptions in the business relationship with the other parties to the contract.
Common Mistakes Small Businesses Make in Their Contracts?
Entering into contract before speaking with a lawyer for business contracts is the number one mistake. Frequently, business owners assume that there are no affordable business lawyers in Howell, New Jersey for them to speak to. Or, business owners assume that they can take a contract from the internet, previous contract or some other source and make it work for them. Get the best business lawyer for your situation and don’t make these common mistakes. The key to successful contracting is that you understand what is in the contract and exactly how it will impact your business. An attorney is the professional you need to explain these documents and impact they will have on your business or you personally.
What’s The Big Deal, Aren’t Contracts Breakable?
If you skip past the attorney review, you risk failing to protect the business you have worked hard to build. Moreover, you risk entering into a contract that doesn’t meet your needs or agreeing to terms that you think that are beneficial but are instead holding you back. For example, a contract that is not exclusive that needs to be, or a contract that assigns certain rights of ownership to a third party you never dreamed of doing business with. You might be thinking that just signing and breaking a contract is no biggie. In rare situations is that ever the case. Whether it’s a lease, supply agreement, or any other contract, there are strategic ways to break a contract. Leveraging your existing business relationship, following the contract’s instructions to terminating the contract or documenting the poor performance of the contract, may, with the proper legal guidance, provide you with an escape hatch from a contract that you want to exit.
You may have very good reasons for breaking a contract but you have to also find the right way to break the contract. This is an art that can save you thousands if not millions of dollars.
At Riviere Advocacy Group we offer affordable advice about your small business contracts. In many situations, we offer a flat-fee which makes legal advice accessible and is an alternative to the big law firm experience.