Entering a business agreement may seem like a simple task. However, when it comes to entering a contract with any other party, it’s always wise to work with a Los Angeles business attorney. Business owners will be involved in various legal situations that could potentially turn into lawsuits. No matter what size your business is, it’s important to hire an attorney, especially when it comes to business agreements.
Common Types of Business Agreements
Many relationships and circumstances that business owners handle on a day-to-day basis are covered by business contracts that ensure that the jobs are done properly. Contracts are usually self-explanatory and easily understood. However, it’s important that both parties understand the contracts and their legal obligations.
A partnership agreement is a contract that will describe the relationship between partners, including their obligations to the business.
This type of agreement prevents a second party from sharing information about a business to the public or competitors. The business will have grounds to sue if a vendor, service provider, or employee shares proprietary or confidential information without permission from the business owner.
Property and Equipment Lease
These contracts or leases will describe the terms of a lease for an office, building, or equipment. These can include payments, deposits, terms, maintenance agreements, and more.
Bill of Sale
A bill of sale is a legal document that will transfer the title of a piece of property. For example, when you sell a car, you will transfer the title via a bill of sale.
Many businesses don’t consider this. However, a purchase order is a legally binding agreement that means a business owner is purchasing an item at an agreed-upon price. They typically specify a delivery date, payment terms, and other crucial items.
An employment contract describes the relationship between an employer and their employee, which can include the duration of the job, compensation, benefits, termination, and conduct.
A non-compete states that an individual may not compete against the business for a specified time period once they leave your company.
Independent Contractor Agreement
The government has criteria for determining the relationships between your business and the people who work for you. You can either have employees or independent contracts or both. If you enter in an independent contractor relationship who will provide you with a particular service, you will need a contract.
The contract will typically state the terms and conditions for the service, along with payment and duration.
Why Hire a Business Contract Attorney?
Among other legal matters, business contract attorneys are typically hired for negotiating and reviewing agreements. There are many contracts that a business owner may enter into during the life of the business, ranging from leases to partnerships and employment contracts.
Oversees the Process
When it comes to contracts, the process involves exchanging information between at least two parties. There are discussions, negotiations, and signing the agreement. Lawyers can be hired to oversee this complicated process and get involved with negotiating contracts for the best possible outcome for their clients. They will make sure that the contract is valid and legally binding.
Seeking the help of an experienced civil attorney Los Angeles will help you better review and negotiate contracts within your business. Lawyers can help you stay protected from any potential adverse legal consequences of bad contracts or contracts that are invalid due to improper information. The lawyer will ensure that your business interests and legal rights are protected so that you can focus on what matters most: running your business.
Protecting Your Interests
Hiring a lawyer means avoiding an agreement that’s in favor of the other party. Your business attorney will help you secure the most ideal terms for your business so that you can benefit from the contract, no matter what type of contract it is. Investing in legal help can help you avoid unnecessary mistakes during the process and prevent bad contracts that can increase the risk of legal consequences.
You don’t want to end up bound to terms that you don’t understand and don’t want. Without fully understanding the laws that can affect your business, especially when it comes to contracts, you may not know which terms to include in your agreement. Some of those terms may be required by law, which means that your contract may be invalid.
You may not know this, but hiring a business lawyer to help you before entering a business agreement can actually save you and your business money. A contract reviewed or even written by a lawyer will be much easier to enforce in court if that time ever comes. With less time spent in court, you’ll save money on legal fees and have the time to focus on your business.
Not only that, by working with an attorney, you’ll get more favorable terms, which can save you money. Your attorney will write a contract that favors you, especially if they have experience in your industry. This means that you could get more money if there is a breach or save on independent contractor fees.
Your business deserves to be protected. When you have to sign a contract, make sure to have an attorney review it before you sign it and make any promises. They will help you determine whether or not the agreement is ideal for your business and its needs.