You should hire a business litigator to review your business contract before you sign it. Having a lawyer take a close look at the contract language could be crucial. Your lawyer can help you protect your business from potential litigation. He or she can ensure that your contract complies with local laws. Moreover, your lawyer can assist you with understanding your dispute resolution options. If you haven’t had a business litigator review any of your contracts, now is the time to start. Your business could be at risk without it.
Protect Your Business from Potential Litigation
The most important reason to have a business litigation lawyer review your contracts is to protect your business from potential litigation. Many business lawsuits stem from contracts entered into by two businesses or by a business and an individual. For example, your business may have signed supplier agreements, a commercial lease, or independent contractor agreements. Business contracts can expose you to liability if they are not carefully prepared.
Good contracts clearly spell out the terms of the deal. They explain what will happen if one party doesn’t follow the contract, and they provide specific remedies available for a breach. When a lawyer reviews your contract, he or she will be looking for legal loopholes that could affect your business. Contracts that are missing important terms or fail to take into account possible problems could expose you to liability.
If something goes wrong during your business relationship with another business or individual, you will need to look at your contract. Without a clear written contract, you may have trouble enforcing a contract’s terms in court. Conversely, if you are accused of breaching the contract, you may have difficulty defending your position. It’s better to speak with a lawyer about the contract’s terms before you sign it. You may be able to avoid potential litigation by negotiating for terms that protect both parties.
Ensure Your Contract Complies with Local Laws
Moreover, a business litigator can help you ensure that your contract complies with local laws. Laws in different states and local areas vary, and they could affect your contract. For example, a construction contractor agreement may need to include certain language relating to payments, insurance, timing of work, and use of subcontractors because of local laws. If your agreement does not include this legally required information, you could face liability.
A good business lawyer practicing in your area can advise you on which laws might affect your business. These laws might pertain to your business’s industry or certain types of contracts that you use, such as independent contractor agreements. In addition, laws change frequently, so ask your lawyer to review your existing contracts and check for compliance.
Your contracts should take into account industry practices as well. In some industries, certain payment rates, remedies, or contract terms are standard. If your contract doesn’t include them, you could lose credibility or clients. Talk to your lawyer about industry standard practices for contracts.
Understand Your Dispute Resolution Options
Finally, a good business contract includes specific dispute resolution options. If one party breaches the contract, the agreement should describe how the other party can seek relief. You have many options for dispute resolution. The options range from working with an arbitrator or mediator to resolve your differences, to going to court and asking a judge for damages, to deciding to terminate the contract altogether.
In the interest of quickly resolving contract disputes, many business owners opt for alternative dispute resolution methods first. Your lawyer can walk you through the options, which include mediation or arbitration. If you would like to use ADR, your contract should include specific details about the type of ADR to use, the rules to follow during the ADR process, and the timing for seeking ADR assistance. Speak to an experienced business litigator in your area for advice on dispute resolution options for your business contracts.
Let Us Review Your Important Business Contracts
As experienced Houston business lawyers, Henke, Williams & Boll helps our clients find the best solution possible. We review business contracts with a litigator’s eye to help you avoid problems in the future. When our clients need assistance with their businesses, we’re here to provide advice tailored to your unique situation. To set up a consultation, call 713-940-4500 or use our convenient Contact Form.