In the digital world we live in, it can be tempting to forgo hiring a lawyer and simply Google a template for your business contracts, “going it alone.” Contracts are one area, however, where this may not be the best strategy.
It is always wise to hire a lawyer to write your business contracts. Without a lawyer involved, contracts can have serious consequences including exposing your business to unnecessary risks including lawsuits.
Here are four reasons you’re better off hiring a lawyer to draft your contract:
- Contracts written by lawyers may make enforcement in court easier, should that become necessary. By writing your own contacts you run the risk of leaving out key terms and information necessary to make the contract enforceable. Additionally, a template may be outdated and/or not take into consideration State specific laws. At the very least, it is wise to have a lawyer review any contracts you draft on your own.
- You will have the peace of mind knowing your business contract is thorough and complete. Lawyers are trained to draft contracts that clearly outline the responsibilities of each party and to anticipate any problems that might arise within its terms. If you have problems clear language can help you resolve them.
- A lawyer can provide assistance with specific language in your contract, resulting in a more favorable outcome. An experienced lawyer in your industry will know the customary contract terms and push the boundaries and tipping the scale in your favor, potentially saving you money. With this in mind, if you are presented a contract that has been drafted by the other party’s lawyer, you can assume that it is going to be more favorable to him/her. For that reason, it is wise to have a lawyer review it, on your behalf, prior to signing on the dotted line.
- A lawyer is familiar with the various types of contracts your business needs. Every business has different needs, and an experienced lawyer will help you identify these needs and properly prepare for them. Properly identifying all of the different contracts your business needs and what they cover can save you headache and hassle down the road.
Good legal advice can be crucial to small business success. Contact us today to see how we can help you navigate the world of contracts.