What does a contract attorney do?
Your contract lawyer will fully execute a contract between you and your partnering business or entity. Hiring a contract attorney is becoming more widespread amongst many businesses across the globe. Having someone with legal knowledge to execute and mediate in contract agreement can potentially save you money, as well as potentially save your business from any hardship.
The responsibilities of a contracts attorney may be as follows:
Compliance – A contract attorney ensures that the parties involved in a written agreement are compliant with each other’s wants and needs for the business transaction. This could include negotiating on your behalf and mediating with the other party so that your terms are met and agreed upon in writing. If you do not have a contract outlining what is to be expected, you risk potentially losing your company and/or money. It is important with any business transaction to always have something in writing, signed, for your protection.
Litigation strategies – When a lawsuit is involved, your attorney will effectively work to plan a strategy to prevent for any adverse reactions or events. This includes setting a legal precedent, such as planning for the goal verdict, financial reward for the client, or lessening the impact of sentencing.
Real estate – When purchasing a home, it is important to have a contract that clearly states the needs of the purchaser. This could include what is expected of the current homeowner before moving in, pricing negotiations, and accounting for any damages to the home and how to resolve them.
Employment issues – At any business or corporation, an employee must sign a contract with the company. This saves the company from any future issues that may come as a result down the line. If an employer is not happy with their employee and the time the employee has been with the company is less than 90 days, a contract ensures that the company can terminate the employee at any point in time without plausible reasoning. By outlining these issues and having your employee sign off on them, it saves the business from lawsuits or actions an employee might take for revenge. An employment outline might also include expectations of the employee, i.e. what they can and cannot post online, how the employee must represent the company, confidentiality agreements, and agreed upon rate of pay.
Mergers – When two entities or companies come together, this is called a merger. Basically, when one business is consolidated with another business or person. A merger will outline the specific relationship both companies will have with each other. This will include what role the merging company will have with your company. A merger will outline expectations, how long the agreement will last if there is a time frame, along with any financial obligations involved on behalf of each party. A merger is usually in place when a company is expanding, to increase company profit.
Types of Contracts
There are various types of contracts within the scope of contract law. We deal with any and all aspects of contract law to ensure your needs are met.
Here are a few of the different types of contracts we specialize in:
Sales contracts – A sales contract is the legal contract outlining the purchase of a service or goods. The value is agreed upon within the contract, along with any pertinent details pertaining to the transaction. There are a few very important aspects when it comes to a good sales contract. A thorough item description must be included; this could include what the item is, the item’s weight, size, value, etc. It also must be clearly outlined that the item buyer is able to inspect the item. If the item arrives and is defected in any way, the buyer usually reserves the right (outlined in the sales contract), to send the item back, without charge. Lastly, how and where the item or goods will be delivered must be clearly outlined in order to avoid any issues or confusion in the transport process.
Business purchases - A business purchase agreement certifies that ownership of a business is being transferred to a buyer. A business purchase agreement outlines the sale price of the business, along with any other terms of buying that go into the agreement. This type of agreement is designed with both the seller and buyer in mind and to protect the rights of everyone involved. A business purchase agreement can be written for a multitude of different organizations; this includes businesses, restaurants, shops, etc. These agreements also outline what part of the business is for sale or what is exactly being sold in regard to the business itself.
Commercial lease agreement – A commercial lease agreement is drafted when a company is renting another company’s property. This type of contract gives the leaser the right to use the company’s property for whatever business purposes the company needs to use the property for. In this type of agreement, payment is often specified to be given to the landlord of the specific property by the leaser. This agreement outlines the amount of time the property will be leased, the amount of rent being paid to the landlord, what type of business the property will be being used for, and any contingencies on behalf of the landlord in regard to the use of the property.
Non-compete clause – A non-compete agreement keeps an employee from going into any type of competition with his or her employer. For example, if an employee is working at an entertainment company, this contract prohibits the employee from doing business with another entertainment company, i.e. a company that would be in direct competition with the current employer. These types of agreements are usually put in place once the employee either completes work with the current employer or is terminated from the current employer. These types of agreements also protect the employer from the employee spreading any private information when it comes to the company to any other company that the employee moves on to work with. The agreement typically outlines the exact date that the agreement is in effect, the reasoning behind the agreement, how long the agreement will be in effect, and also if the employee is receiving any type of compensation for agreeing to the non-compete clause.