Whether your business has been established or is just starting, it’s difficult to determine the things to include in your contracts. There are many aspects to be addressed during the drafting process. Even more to be considered before sending the document for signing. If you want your business to grow without any legal problems down the line, then it’s worth investing in quality contracts with zero loopholes. That being said, here are six reasons why you should hire an attorney to draft yours from day one.
1. Help You Understand a Contract Better
Contracts are rather complicated paperwork. You’ll encounter a mountain of legal jargon if you try to read through one. There are also many types of contracts, and each one serves a different purpose. All these can be perplexing to someone unfamiliar with them.
Whether you’re handing out an employment contract or making a deal with a supplier, it’s crucial you have a clear understanding of the written terms and how this agreement will affect your business.
The only person who can do this in-depth analysis is a lawyer with experience. He can guide you through the legalities associated with signing up the contract. With his help, you can gain knowledge about the full extent of the agreement getting into.
2. Spot Potential Liabilities
Signing a contract is a big decision. It can be difficult to know what you’re getting into, especially with many unfamiliar terms plaguing the paper. But with a lawyer’s help, you will be able to spot potential liabilities that could affect your business in the long run.
The only way someone without legal expertise can fully understand everything is if they have the time for comprehensive research on their own, which most people don’t have access to.
That’s why it pays off to hire an attorney who already knows this information from years of studying contract laws. Not only will he save you time, but he also protects your business from future lawsuits.
If he doesn’t find anything problematic about any of the contract’s clauses, then there shouldn’t be any problems down the line either.
3. Ensure That a Contract is Valid
Contracts can be tricky to understand. For example, if a contract contains an illegal term or one word is in the wrong place, it could render that agreement invalid. This would require you and your counterpart to sign another document stating what both parties agreed on initially. A lawyer can identify errors before they’re made official to avoid confusion about which terms have been discussed and signed on by both sides of the deal. This also ensures that the agreement is enforceable in a courtroom.
4. Someone to Turn To if a Dispute Arises Later on
Nothing in life is certain, and that includes contracts. Sooner or later, problems may arise. The other party might not honor the agreement, or you might unintentionally breach a term. The worse thing that could happen is for things to escalate to court. However, there’s no need to panic if you have a lawyer who helped draft the agreement with you. He can help resolve any disputes efficiently since he knows the specifics involved.
5. Represent You in Court
Suppose you were not able to settle a misunderstanding diplomatically. The next thing you know, you’ve got a contract breach knocking at your doorstep. A contract dispute is challenging to handle on your own. It will require a lot of time and effort, not to mention legal knowledge that you might not have. Count in the stress and money you’ll have to spend. Not to say that hiring an attorney is cheap, but it’s a smart investment to protect you and your business. He can plan the defense, prepare the paperwork, and represent you in court to protect your company’s best interests.
6. You Are not an Expert
Admit it. You’re not an expert. Unless you’ve gone through law school and passed the bar, you’ll find it hard to navigate through the treacherous world of laws and regulations. Attorneys exist for the sole reason of using their knowledge to help fight the legal battles of the people. Yes, you might be able to last a little longer without an attorney. But if you’re concerned about the relevance of your business, in the long run, there’s no reason not to hire one. In the end, the cost of hiring a lawyer will be more than worth it than the court fees you’ll have to pay if things go south.
Contracts are more than just pieces of paper with some bullet points written on them. It is a huge responsibility for both parties. That’s why you never think twice about letting a professional attorney draft yours. Besides protecting you from possible lawsuits, he can also write the contract in a way that reflects your standards and interests.