This article explains that a legal review of contracts is essential to avoid surprises and future misunderstandings and outlines basic clauses for contracts and negotiation.
Oh no! The contract is under legal review. Is this process going to drag on and on? Will this be a lot of work and a missed opportunity?
At Business Legal Management, we work quickly through the legal review process so that “Under Legal Review” is not the Kiss of Death. Our experience and expertise provide a thorough legal analysis of your contract in a timely manner so that the legal process is a revenue grower and not a deal breaker.
Why go to the trouble of legal review?
Each contract is unique but there are some basic things to understand about legal review. The first thing to remember is that contracts favor the person who wrote them. It may be a 51% advantage to them versus 49% to your company but whichever party drafts the contract holds the advantage. There is very rarely a neutral contract.
Many large corporations require sales agreements to be completed on their forms or in their style. Corporate lawyers develop these forms to protect the company’s business interests. This gives companies the advantage and control they want.
Am I stuck?
This does not need to be a deal breaker. All contracts are negotiable until they are signed. Our legal team knows how to decode legal jargon and will examine the contract for any loopholes or inconsistencies that may lead to land mines for your business in the future. We can help you see which items are worth bending on and which are not worth compromising in our evaluation. We call this review the redlining process.
During the redlining process, our attorneys make note of the stipulations of the risk the other party is asking you to take on and the risks they are willing to take on in exchange. Our team knows which things are worth fighting for and which are not. This contract examination will help protect your business interests from loopholes, provide clear expectations for both parties, get the sales deal done, and save you from unwanted surprises in the future. Our goal is to provide a comprehensive legal review and be a revenue grower for your business.
What are reasonable clauses to expect in a contract?
Every contract should outline the parties involved in the exchange and what the parties will do for each other. What goods or services are provided? What price will the other party pay for these goods or services? These are defined in the agreement. Clauses around the length of the service agreement, conditions of delivery or payment, and unexpected outcomes are all part of the legal contract.
What is reasonable is subjective and dependent upon the individual contract and circumstances of the businesses. The subjective nature of contracts makes it vital for businesses to perform legal contract reviews to protect their assets and company interests.
- Whoever drafts the contract holds the advantage in the agreement.
- There are things companies can bend on and positions they can’t adjust.
- We know how to make the legal review process move quickly, negotiate the most important things, and protect your company’s interests at Business Legal Management.
Does your business need help creating or reviewing a legal contract?
At Business Legal Management, we specialize in legal review and help companies of all sizes with business contracts and employee agreements.
Contact us today for a free 15-minute Zoom consultation to review and discuss your legal needs.
DISCLAIMER- This website talks about various business topics and various legal situations. The statements given by the host or guests or author do not constitute legal advice given to any individual or business. The host and/or guests are giving their personal opinion based on their personal and professional experience. Examples given are given broadly as examples with names removed for privacy. If you do have questions about your business or legal situation, please reach out and email firstname.lastname@example.org to discus your business or legal situation.