Articles Tagged with Business Contracts

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AdobeStock_516820932-300x200There are many risks involved with entering into any contract. Business litigation costs time and money that interferes with efficient business operations. The best way to mitigate the risk of a business contract is to hire an experienced Los Angeles business attorney to draft your contract with as much protection as possible. At Structure Law Group, our skilled Los Angeles business litigation lawyers know how to prevent disputes in the drafting phase, negotiate dispute resolution during the contract performance, and litigate disputes in court when necessary.

Financial Protections

Some contract provisions provide financial protection. Insurance requirements, for example, can provide financial security against the risk of loss. Los Angeles business owners can also create financial protection with a liquidated damages clause. This contract provision imposes a set monetary fee, that a breaching party is required to pay in the event that they breach the contract. It is not designed to be a penalty, so courts will usually not enforce liquidated damages provisions that are not closely tailored to the party’s actual financial losses. But setting the amount of these financial losses ahead of time provides one party with financial security in the event that the other party breaches the contract. It also sets a financial incentive to encourage both parties to comply with the contract.

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AdobeStock_503784636-300x202Business litigation is a major expense for many California entrepreneurs. You can save your business time and money by preventing contractual disputes. The California business litigation attorneys at Structure Law Group provide proactive legal advice to prevent contractual disputes whenever possible. Having your business contracts reviewed by an attorney is an important investment that can pay dividends in the long run.

How Business Contracts Affect Every Area of Your Business

You might not realize just how many areas of your business are affected by contracts. Your customers, vendors, and employees can all subject your business to liability in contractual disputes.

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AdobeStock_252648156-300x200Drafting contracts that properly protect your legal interests requires training, a unique skillset, and years of experience as a business attorney.  Contracts that are not drafted by experienced counsel often fail to provide adequate protections to the parties involved.  For example, contracts prepared by business people that are not attorneys often contain key terms that are vague or are missing key legal provisions and fail to offer business owners sufficient legal protection. A well drafted contract can provide a business owner predictability and will save significant time and money by avoiding pitfalls that can be a significant burden on a company.

4 Reasons Why You Shouldn’t Draft Your Own Business Contracts

  1. The Agreement May Not Reflect Your Intentions. Although a form contract purchased online might look enticing, it may very well fail to meet your specific needs.  You might not properly understand its provisions, legalese, or legal terms of art. Lengthy terms in a form contract can be confusing to the untrained reader and can contain terms that are dangerous to include in your specific situation. They can address complex legal theories that are best understood by an experienced attorney.  Ultimately, using a form contract without individualized legal advice can lead to your business being bound to legal provisions that you never intended.
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