Post by Trade facilitator on Dec 12, 2019 23:18:00 GMT 1
Contracts That Protect Your Business
When you are engaging in business, regardless of the size of your company, it is vital to have strong contracts in place that protect your legal interests and set forth clear expectations between you and those you do business with.
While maintaining informal relationships may feel like an easier approach or an expression of trust and mutual understanding, they only saddle you with unnecessary risk and threaten to destroy business relationships in the absence of clear and agreed upon terms.
Drafting and negotiating clear and well-prepared contracts can provide clarity to discrepancies and help you prevent misunderstandings that can lead to lost time, money, and value.
While written contracts are preferred in most situations, oral contracts between parties may also be enforceable with the help of an experienced contract law attorney.
What Are the Benefits of Contracts?
Well-drafted contracts provide you and your business many benefits such as:
Clarity in business relationships, agreements, and rights of parties
Avoiding potential contract disputes and litigation
Preventing misinterpretation of communications and agreements
Protecting intellectual property, real property, and asset values
Better management of commercial relationships
Built-in agreements about resolving disputes through arbitration, mediation, or a court in a particular jurisdiction
Documentation to allow comprehensive representation and review by an experienced business law attorney
Source: www.themyerslg.com/contract-benefits/
When you are engaging in business, regardless of the size of your company, it is vital to have strong contracts in place that protect your legal interests and set forth clear expectations between you and those you do business with.
While maintaining informal relationships may feel like an easier approach or an expression of trust and mutual understanding, they only saddle you with unnecessary risk and threaten to destroy business relationships in the absence of clear and agreed upon terms.
Drafting and negotiating clear and well-prepared contracts can provide clarity to discrepancies and help you prevent misunderstandings that can lead to lost time, money, and value.
While written contracts are preferred in most situations, oral contracts between parties may also be enforceable with the help of an experienced contract law attorney.
What Are the Benefits of Contracts?
Well-drafted contracts provide you and your business many benefits such as:
Clarity in business relationships, agreements, and rights of parties
Avoiding potential contract disputes and litigation
Preventing misinterpretation of communications and agreements
Protecting intellectual property, real property, and asset values
Better management of commercial relationships
Built-in agreements about resolving disputes through arbitration, mediation, or a court in a particular jurisdiction
Documentation to allow comprehensive representation and review by an experienced business law attorney
Source: www.themyerslg.com/contract-benefits/
