We often find that new business owners are hesitant to spend their sometimes limited funds on attorney fees, but more experienced business owners are not. There is a significant amount of protection that can be accomplished by hiring the right people to assist you in closing your business dealings. Wherever you are in the process of growing or managing a business, we work to ensure your main goals are met.
When do I Need an Attorney to Review my Contract?
You should consider hiring an attorney to review your contract if any of the following apply to you:
- An attorney for the other side drafted up the contract.
- The contract was drafted by someone without contract drafting expertise.
- The contract will be in force for a significant amount of time (6 months or more).
- The risk is high.
- You stand to lose or gain a significant amount of money.
- You are hoping to protect something of significant value to you or your company (i.e. client lists, goodwill, trade secrets, property, etc.).
- You found the contract online or it was given to you by another business.
- The contract you want to use was drafted by an attorney in another state.
Can I Just Review the Contract Myself, Carefully?
Maybe, but in most cases you probably shouldn’t. In some cases businesses deal with the same types of contracts all the time. If this is the case for you, you may be intimately familiar with what should be included in your contracts and you may have learned to spot unfavorable language or legal pitfalls. You may have even had your attorney review very similar contracts with you and give you some training on what to look for.
Other times, however, even seemingly simple contracts may need review by an attorney. This is because it is often what a contract is lacking that causes problems, rather than what the contract actually includes. Different industries have certain legal standards that need to be met and states throughout the country differ on exactly what types of contract provisions will be upheld in a court of law. At Red Law, you will have an Ogden business attorney that can draft thorough and clear terms that effectively minimize disputes and lower your risk.
For more on this issue you can read examples of poorly drafted contracts here.