Do you own a business and are about to cut a deal with another company? If so, you should really take your time and make sure you completely understand all of the fine print. One of the best things you can do in this situation would be to retain an attorney who offers business transaction law services. Here are three reasons why this is a great idea.
Make Expectations Crystal Clear
If the deal you are signing is complicated, you'll want to make sure every expectation on both sides of the table is as clear as possible. Once a lawyer gets involved, it will be much easier to spell out line by line exactly what it is you expect from the contract. Lawyers are sticklers for detail, so you can sign the contract knowing that every single sentence has been scrutinized and cleared by your legal team.
You're a Business Owner, Not a Contract Writer
If you are like many business owners, you tend to think in terms of the big picture. Why get bogged down in the little details of the deal if you don't have to? Yes, you want clear expectations, but you don't actually have to write the contract yourself to accomplish this goal. Leave the boring contract writing to the legal experts so you can move forward with whatever phase 1 of this new deal entails.
Support If You Need It
Hopefully your new deal will go through and all parties involved will hold up their end of the bargain. But what do you do if someone doesn't do what they are supposed to? If you don't yet have a lawyer when you reach this point, you're going to have a large headache to deal with to get the matter resolved. Conversely, if you bring the lawyers in before the contract is even signed, they'll already have a deep understanding of the situation and will be able to take swift action to help protect your rights. Honestly, just the fact that you have a lawyer on your side is often enough to keep all parties treating each other with respect.
If you are about to go through with a major business transaction, don't sign on the dotted line until you've had an expert such as an attorney with Boynton Waldron Doleac Woodman go over the contract. A good lawyer will be able to help you fine tune the contract to get what you want while setting clear expectations on all sides.