How Can a Contract Lawyer Help You?
If you run a business of any size, you’ll be dealing with contracts as a daily occurrence. You’ll be hiring and firing, perhaps taking on specialist consultants to deal with specific projects, not mention renting premises and storage facilities, and buying in raw materials or products to sell.
This can be a heavy burden to bear with other aspects of your business to run, and the consequences if you fail to review a contract and miss an unexpected clause could be costly.
With that that in mind, let’s look at how a contract lawyer can help you and add value to your business.
A lawyer specialising in contracts can read and advise you on each one before you sign it: sometimes business partners will try alter things between making a verbal agreement and setting it down in a contract. A contract lawyer can help you understand exactly what you sign and make sure it matches what you expect from negotiations.
Drafting and Redrafting
When you’re on the other side of the table, offering a contract for someone else to sign, it pays equally to have an expert checking and double checking before you’re committed. Elementary errors with a contract could end up having big ramifications in the future. For example, it’s all too easy to include yourself personally as a party to the contract, rather than your business entity. This would mean you are liable for the contract, personally accruing debt and responsibility which would be payable from your own bank account rather than being a part of your business’ operating costs.
A lawyer specialising in contract law make sure the basics are in place for you every time, and help you avoid a nasty surprise when the invoices come in.
Saving You Money
Hiring a lawyer is increasingly available to small businesses as a financial decision. High street firms of specialised business lawyers are a feature of most towns and cities, so you can schedule a consultation within walking distance of your office, and find a package that fits your needs. Online lawyers are even more flexible.
The cost, when compared against being dragged into legal action, is slight, and protects you not just from a court case but from the negative publicity of having legal proceedings brought against you because of a less than ironclad contract.
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