WHEN DO YOU NEED A CONTRACT LAWYER?
There are many situations where you should consult a contract lawyer. Starting a business, getting a loan, buying or leasing property, employment agreements, partnership agreements, mortgages, prenuptial agreements, and variety of other situations where having a contract lawyer at you side is a big benefit to you.
STARTING A NEW BUSINESS
When starting a new business it is important to find the right legal structure that will fit your business needs. Your options range from sole proprietorship to partnerships, and from companies to cooperatives. A good contract lawyer will help you choose the right business structure by understanding which factors are the most important to your new business, such as: the number of people involved, the type of business, assets and liabilities, legal documentation, taxation, and location infrastructure.
BUYING AN EXISTING BUSINESS
If you buy an existing business, you should have a “Sale and Purchase Agreement” signed by both parties which explains in detail the obligations and conditions of both parties involved in the sale and purchase. These kinds of agreements can be very lengthy, and filled with lots of legal terms, not to mention the amount of paperwork that goes into getting the agreement validated and legally verified. For these reasons, as well as others, it is in your best interest to have a contract lawyer working with you each step of the way when selling or purchasing an existing business.
The majority of small companies lease the space where their business is located and operates. However, leases can easily be one of your company’s biggest expenses. You will want to make sure your lease gives you the flexibility to expand or modify your business. You will also need to make sure the lease does not come with any loopholes you are unaware of, and of course you will need the lease to be in a language you understand. Without a good contract lawyer to get through to the real nuts and bolts of a lease, your company may end up losing when it could have been gaining.
Whenever you in the position of having to enter into a legal contract, it is advisable to seek the advice of an attorney before signing. A few examples of the kinds of contracts where having a lawyer is very helpful:
– Licenses, Permits, Registrations
– Franchise Agreements
– Employment Contracts
– Outsourcing Contracts
– Partnership Agreements / Shareholder Agreement
OTHER ISSUES OF LEGAL CONCERNS
In any business, there can be situations and instances that are not part of the routine operations, but when they occur require the services of a lawyer. These types of legal concerns are:
– Environmental complaints or issues of compliance
– Problems or disputes with employees
– Disagreements between business partners
– Closing of a business
– Protecting intellectual property