Good Contracts are Good for Business.
1. Save Time
Having the right contracts in place is crucial. Good contracts make everything easier. They get everyone on the same page by describing in clear language the rights and responsibilites of all parties involved. They make relationships with employees, contractors, vendors, and clients more seamless by encouraging dialogue on key issues early in the relationship.
2. Save Money
No need to dig through old text messages and emails to see who made what promises - the contract is the final word and legally binding. While no contract can avoid every possible dispute, a well-drafted contract considers the most important components of the transaction or relationship, anticipates areas where disputes could arise, and minimizes potential risks or areas of confusion.
The Contract 'Secret Sauce'
With a growing business that has moved beyond the startup phase, one of the top priorities for legal spend is drafting contracts and templates tailored to the business. Contracts are the foundation of solid legal protection for many companies. They help:
(1) prevent confusion which leads to disputes (i.e. lost profits and extra legal expense defending claims);
(2) provide a template to streamline processes, and
(3) identify and reduce liability and risk as much as possible. Ask us about conducting an audit of your existing business contracts.
Our Contracts Follow Your Goals
We believe in "goal-driven drafting." We find out what your goals and motivations are for a particular contract or transaction and draft the contract(s) to help achieve those unique goals. A deal for $10,000 and a deal for $10 million will involve contracts of differing scale and complexity, but the fundamental motivations and issues are the same. Each party engages in a business relationship or transaction because they hope to get a benefit or value and having a solid contract in place goes a long way to making that a reality.
Plug and Play is Great for Software...
But not so much for contracts. When you find a template contract online and swap in your company name it may save a few bucks in the short term, but it could prove costly in the long run. While the type of contract may be the same, there's no way to tell what goals the original drafter had in mind. For example, was it drafted to be more favorable to one side? Were there specific risks and goals in mind? Is it based on the laws of a certain state or country that are different from your location? For those and many other reasons, a 'plug and play' contract is typically more of a 'plug and pray' that nothing goes wrong contract. Working with an experienced business lawyer (like us) ensures that your contracts say what you want them to say.