Almost every company relies on contracts for many aspects of business operations. You may have contracts with vendors, clients, and many other parties. Some agreements may be informal and entered into verbally, but this does not make them invalid. In many situations, however, a contract must be in writing under the law or the parties prefer to have a formal written contract. Before you ever sign on the dotted line, you should first have an experienced business lawyer thoroughly review your contract. This goes for many types of agreements, including:
- Partnership or operating agreements
- Buy/sell agreements
- Vendor contracts
- Commercial leases
- Purchase or sale agreements
- Real estate contracts
- Employment contracts
Common Contract Risks
There are many risks of signing a contract without the counsel of a business attorney. The following are only some pitfalls of rushing into a contract too quickly:
- Many contracts contain complicated provisions using legal jargon, which can make it difficult to identify when terms may be unfavorable to your interests.
- Some people use the same boilerplate contract over and over again, and all of the terms may not apply to your situation or adequately protect your rights.
- Contract terms may open you up to unnecessary liability or financial losses.
- It may be possible for an attorney to negotiate better terms that are in your best interest.
The good news is that you can avoid most of these risks by having an experienced lawyer draft, review, and/or negotiate your contract before you agree to anything.
Consult with a San Diego Business Lawyer for More Information
At the Benner Law Firm, we work to prevent business contract disputes, as well as help to resolve disputes when they do arise. We handle all types of contracts and provide advice and representation throughout business transactions. Contact us online or call 619.595.6795 to speak to our business lawyer regarding any concerns you may have.