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Why is it important that you have your attorney draft the contracts for you?
What if other parties draft the contracts you’ll be entering into? What are the downsides?
Contracts are an essential part of business. Contracts and agreements define the relationships between the business and other parties such as partners, employees, vendors, contractors, customers and more. If another other party’s attorney drafts the contracts, you may be missing out on these 4 advantages:
1. The party whose attorney drafts the contract is the party that will be in a position of power because they get to set the terms of the agreement to favor themselves.
2. The party whose attorney drafts the contract is the party that will gain legal and enforceable protections for their interests. If the contract is drafted by an experienced attorney, they will take every advantage they can to protect their client’s interests. The party that does not have their attorney review a contract before signing may be signing an unfair contract.
3. The party whose attorney drafts the contract can ensure that that party’s intentions are clear, but may ignore the intentions of any other party.
4. The contract may not be written properly. It may lack proper legal language and therefore not only not be enforceable, but it may also cause the parties to engage in disputes over the vague language.
In conclusion, prior to signing and entering into a contract, business owners should have the contract reviewed and edited by their attorney. If they can work with the other party, they can create a fair contract. Ideally, if a business owner has the time and money having their attorney draft the contract to fit their needs and be legally enforceable will place them in the best position. If they do not and they enter into a contract without an attorney consultation they may face legal issues down the road.
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[…] 1. Harassment and discrimination Any type of harassing behavior can have a serious negative impact on your business. It’s important to conduct swift investigations into any complaint of harassment or discrimination in the workplace. Any employee found to have harassed another party should be fired or disciplined appropriately. It’s important that employees feel safe in their work environment. A victim of harassment who was dismissed or not taken seriously could bring negative press to your business and destroy your long-built reputation. 2. Disputes with customers Disagreements with customers can turn into major legal disputes if they are not handled promptly and professionally. If a customer is unhappy with the quality of your products or services and they feel that they were cheated out of their money they could file a class action lawsuit against your company and tarnish your brand. 3. Employees taking trade secrets with them Businesses that don’t have employees sign contracts against stealing trade secrets or working with competitors may lose valuable information when their employees leave. These employees could take this secret information and to competitors. It could not only damage their company but it could help their competitors out perform them. How can employers protect themselves? The primary way an employer or business owner can protect themselves, their business, and their reputation is by hiring an experienced attorney to draft and negotiate all their contracts. For more information, click here to visit our article on the top four reasons why you need an attorn… […]