Prevent Contract Disputes By Getting Your Contracts Right to Begin With  

Business contracts are the backbone of a thriving business. However, poorly-written contracts can do more harm than good. As COVID-19 continues to delay legal processes and backlog courts, the need to avoid contract disputes is greater than ever.

As a business leader, your focus should be on your business’s growth and continued success, not obsessing over business contracts. Unfortunately, even a small mistake or oversight can have a dramatic impact on your business’s bottom line. Contract disputes are costly and time-consuming – and many contract disputes are entirely preventable. Accurate, detailed contracts that comply with all local, state, and federal laws are the key to avoiding needless confusion and avoidable legal proceedings. This is why it is so important to have the right legal eye reviewing your business contracts.

The Importance of Strong Business Contracts Cannot Be Overstated

Business contracts accomplish multiple objectives: Contracts ensure parties understand exactly what they are agreeing to and what is expected of them. They also provide proof of these agreements. If a party violates a provision in the contract, the other party will have the evidence needed to take remedial action. Sometimes, this action is in the form of a breach of contract claim. Not every contract dispute can be prevented. However, legal counsel can help you ensure that your contracts are as dispute-proof as possible.

Often, misunderstandings and conflicts can be prevented entirely by carefully reading and considering the elements of the contract before agreeing to the contract’s terms. Many business leaders are simply spread too thinly to be solely responsible for this level of scrutiny. Furthermore, most business leaders do not have the legal expertise needed to fully understand the contract terms and ensure the contracts are in the company’s best interests.

Legal Counsel for Contract Drafting and Review

If you are a business leader and you cannot afford in-house legal counsel, consider utilizing an outsourced general counsel for your business contract needs. An experienced outsourced general counsel can help you prevent legal problems by carefully reading and evaluating the contract. An outsourced general counsel (OGC) will ensure your rights are protected and that you understand exactly what you are agreeing to.

Call Us to Learn More About Outsourced General Counsel

At the Gierach Law Firm, we have seen firsthand the disastrous consequences of poor contract drafting and review. Our Naperville business law attorneys know how to write solid business contracts and advocate for our client’s best interests during contract negotiations. Call us at 630-228-9413 for a confidential consultation or to learn more about our outsourced general counsel program, Your OGC.

Source:

Forbes