It is always good business practice to review your business contracts with an experienced business lawyer. Whether it is an old contract or new contract, hiring a business lawyer is good practice. A lawyer will help you outline the contract basics. It includes the duties and rights of each party, relevant dates, prices and quantities, and payment terms. You should also talk to your lawyer about contract terms such as warranties, disclaimers, limitations on liability. Further, it includes 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. Therefore, having a business lawyer in Howell to review the contracts is of course priceless. A lawyer ensures the purpose of the contract will be met. Further, 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. Secondly, business owners assume that there are no affordable business lawyers in Howell, New Jersey. Thirdly, business owners assume that they can take a contract from the internet, previous contract or some other source and make it work for them. However, the best practice is to find a business lawyer for your situation and avoid making 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. Above all, you need an experienced attorney 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. 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. A proper legal guidance can help you escape from a contract that you want to exit.
You may have very good reasons for breaking a contract but you also have to find the right way to break the contract. Moreover, this is an art that can save you thousands if not millions of dollars.
At Riviere Advocacy Group we offer affordable advice about 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.