Well-written contracts are an important part of every successful business. The contract process has two parts: drafting and negotiations. An experienced attorney can help you draft or negotiate contracts, so you can stay ahead in business. An attorney will work with you to draft a contract with terms that will best serve your business.
Whether your business is pursuing traditional financing or seeking creative financial sources, your attorney is essential to review the contract and negotiate the terms in your favor before you sign on the dotted line.
Real Estate Contracts
Businesses may conduct at least two real estate transactions a year, making it easy to forgo a careful contract review. An attorney is essential when signing a lease or selling a property. Your attorney will draft and review your contract to ensure your interests are protected to help your business avoid liability.
Sales contracts are widespread and used when selling to consumers and businesses. Your attorney can help you draft general sales contracts to cover most transactions and specialized agreements that limit your business’ liability.
Vendor relationships are the heart of many businesses and require strong contracts from day one. Your attorney can help meet the needs and protect both parties’ interests, so you both can enjoy a long-lasting business relationship.
A generic employment contract is not an advantageous option. Businesses should consider a tailored agreement that defines each employee’s expected at the time of hire, so employees know the terms before signing the dotted line. An attorney can draft standard and specialized employment contracts.
A solid business contract with terms that meet your business needs can serve your business well. Your attorney will advocate for you, ensuring the contract terms are fair and that you fully understand the terms.
When Negotiating, be Sure to:
Compartmentalize the Negotiation Process
- Take control. Controlling the location, timing, topics, and pace of negotiation (sometimes called “controlling the agenda”) may create an advantage. For example, lawyers often believe that the attorney who drafts the agreement is in the contractual driver’s seat. Similarly, by controlling the negotiations, you get to decide which topics are discussed and in what order. Sometimes, parties use a passive approach to take control — for example, by seeming to act as the moderator for the negotiations or by offering to “summarize” where things stand (in a letter or brief statement at the start of a negotiating session). No matter how the reins are seized, the party that frames the issues generally has more control over how those issues are eventually resolved.
- Prioritize, prioritize, prioritize. Contract negotiations typically focus on revenue and risks. But clearly, some revenues and risks are more important than others. When you negotiate, you need to know what your top priorities are — usually the business or money-making opportunity offered by the deal — and how your other priorities rank below that. This will help you keep your eyes on the prize and avoid getting bogged down in issues that are not as important.
Paul J. Burkhart
If you have reached a decision on which LLC you prefer, contact the Law Offices of Paul J. Burkhart, P.L. The Law Offices of Paul J.Burkhart have experienced attorneys who can help you with the hardships businesses face.
Our team assists both individuals and business clients with all their legal needs, including business and Corporate Transactions, Business/Commercial and Civil Litigation, Real Estate, Intellectual Property, Family Law, Probate, and Estate Planning matters. We are a full-service private law firm ready to assist you with any request, large or small. Call 561-880-0155 or visit our website.
Law Offices of Paul J Burkhart, PL
800 Village Square Crossing
Palm Beach Gardens, FL 33410
Phone: (561) 880-0155
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