Contracts & Agreements

Contracts are ubiquitous in business. The wise business owner never signs a contract or agreement that doesn’t meet his or her long-term business objectives.

Flat-rate contract review

For just $25 per page (minimum 4 pages), L4SB will review your contracts.For just $25 per page (minimum 4 pages), L4SB will provide 30 minutes of attorney consultation (per matter) and review your contracts for:

• Errors, typos and grammar problems
• Structural and logical problems
• Legal risks and problems
• Perceived financial and business risks
• Negotiating opportunities

The L4SB flat-rate contract review consists of a beginning discussion (What is important to you? What are your goals and objectives? What has been discussed?), an attorney review of the contract(s) for your matter, an overview document of the identified issues, and a final discussion to answer questions, make recommendations and explain the attorney’s opinion of the contract(s).

After a review, you have the power to negotiate and update your contracts and agreements with confidence. L4SB is available to assist further, for revision assistance or negotiations. Because you have payroll to meet, you cannot afford to be surprised with a large legal bill. This is why L4SB will provide fixed-fee or not-to-exceed pricing, when requested.

Contracts are used to control how a relationship ends

Sure, contracts and agreements have many purposes. For example, most contracts outline the relationship between the parties. They also govern the terms and conditions of a relationship. They outline the rights and duties of the parties. But, you know all of this. After all, you are a small business owner and you know the nature of your relationships.

From this context, many business owners neglect to really pay attention to (or require) contracts. There is trust, otherwise why would a relationship exist? What people forget, is that companies change hands. Things change. Invariably, relationships end.

This is when contracts become critical. Seldom does a breakup end with shaking hands, and the parties going their separate ways. Instead, there is fault, blame, money, service or product to be sorted out. Customers and employees to protect. Reputations at stake.

Work to limit early termination penalties in your vendor contracts.When you sign a vendor contract, odds are that contract has a specific term (i.e. amount of time, like one or two years) and has a provision if you terminate or cancel before that term. Why lock yourself into a long-term contract with a vendor, which reduces your ability to negotiate pricing or better service? It’s better to reduce early termination penalties, and give your business flexibility down the road.

Without legal training, you are at a disadvantage

Simply put, without legal training, you are at a disadvantage when reviewing a contract. The law is riddled with a myriad of rules governing contracts. Rules for certain activities. Rules for certain forms of language. Rules on whether something is valid or not. Rules on whether something is said or not.

For example, did you know that when you pay a non-employee (i.e. independent contractor) to create something for you (i.e. statue, recording, painting, neon sign, or website), that non-employee actually owns the copyright on that something? That is, unless you have a contract in place, containing very specific language indicating “Work Made for Hire”.

Law 4 Small Business (L4SB). A little law now can save a lot later.