Entering A Business Contract? 3 Points When An Attorney Can Help

Are you entering into an important contract? If so, an attorney experienced in corporate contracts can help protect your interests. But when should you engage a lawyer and what elements should they assist with? Here are three points in the process when a lawyer can help.

1. Drafting the Contract

If you haven't begun the work of actually writing up the contract, this is an excellent time to work with an attorney. Because corporate attorneys are trained in all the various legal aspects of contract law, they will ensure the wording is correct and the contract contains all the elements needed to make it legally binding. Bringing in a law firm to draft the document saves time and money in revisions and renegotiating. 

2. Reviewing the Contract

Have you already drawn up the contract? It's not too late to seek legal counsel. A lawyer will read and analyze what you've written to ensure that there are no surprises awaiting in its wording. They are trained in the details of legal matters, so they will look at even innocent-sounding elements — like the legal names of both parties — to ensure no loopholes exist and no uncertainties can be claimed. 

Along with what's in the contract, the attorney will look for what's not there. For example, all contracts must include three legal elements: offer, acceptance, and consideration. If any of these three are not in your contract — even if they are alluded to — it may not be enforceable. 

3. Negotiating the Contract

Finally, a lawyer can provide an impartial voice during negotiations surrounding the contract. Negotiations aren't every business owner's strong point, and they can take valuable time from the rest of your work. In addition, some negotiations can involve challenging subjects or even high emotions.

Your lawyer is obligated to work for your company's best interests, so they can be a trusted resource. You might need only the advice and guidance of a skilled negotiator before meetings or you may use them as a surrogate during one or more parts of the actual discussions. 

No matter how far along your contract is or what you need help with, a corporate law firm can be the solution you need. Make an appointment today with a qualified lawyer in your state. Together, you will ensure that every contract your business enters into will enjoy its — and your — best chance for success. Contact a corporate law firm for more information.