How a Lawyer Experienced in Contract Law Saves You Money

With so many templates available online, too many entrepreneurs think that they don’t need a lawyer to review or draft a contract. However, resources like Legalzoom are poor substitutes for the real thing. These people usually think that they’re saving money by doing so, but they couldn’t be more wrong. Contract law is very complicated. Poorly drafted contracts are notorious for resulting in costly lawsuits. They can also expose your business to unnecessary risks and expenses. A lawyer is an investment – not an expenditure.

Easier to Enforce

Contracts exist so that previous agreements can be enforced by the courts in case one party doesn’t fulfill their end of the bargain or should other disputes arise. On oral agreement, by comparison, is almost never enforceable in court. But just because you have it in writing doesn’t make an agreement bulletproof. If you pulled a pre-written contract from the first website you found on Google, it could be missing key terms or clauses that are needed for it to be considered valid. A lawyer well versed in contract law can also help you deal with contract law on the state level. For instance, just because a non-compete agreement is enforceable in Florida doesn’t mean that it’s enforceable nationwide.

Complete Document

Lawyers know better than anyone what to include in a contract. They know what language to include and how to foresee (and in some cases even prevent) problems that might develop down the line. An entrepreneur might think that a contract only needs to list the terms of the deal, but an attorney can help you with additional clauses that will best serve your specific needs. These clauses can help limit your liability should things go south and set contingencies in case one party violates or fails to uphold the contract. Be sure to visit our website to find out more about how an attorney experienced in contract law can help your business.

Knowing Contract Law Means Better Terms

If you need a contract that will work for you, then an attorney’s office is the place to go. Most contracts will favor one party over another – for instance, a leasing agreement’s terms are typically written with a bias towards the landlord. Now, not everyone is out to get you, but consulting with a lawyer before signing anything helps to avoid any unfair terms or unusually harsh penalties that could cost you down the line. Whether limiting your exposure to litigation or protecting you from fines, attorneys will fight to save you money by drafting an agreement that will be more beneficial to you and your business, or at least one that provides a more equal balance between the two parties.

They Know How Use Contract Law to Match Your Business Needs

Every business owner knows that each industry has its own specific needs that must be met to succeed. The same is true for contract law. For example, you may want to include a non-compete agreement. While this agreement is valid in Florida, it is not enforceable in states like California or Oklahoma. This is important to know if you hope to take your operations nationwide someday. Intellectual property (IP) assignments are another tricky subject that can leave business owners scratching their heads. Consulting with an attorney means you can walk away with the best tools available for protecting your business.

Looking to start a business or grow your current business? Contact FL Patel Law PLLC today by visiting our website or calling 727-279-5037.