Your New Jersey Business Attorneys
The entire purpose of your business is to make money. You work hard and negotiate deals for projects and sales. With just a quickly drawn contract, and a few signatures, what can go wrong? As experienced New Jersey Business Attorneys we can tell you plenty can and will go wrong.
What Can Go Wrong Without the Right Business Attorney?
Here are some examples from our experience:
- The law requires that your contract contain certain mandatory clauses. Without them, you face consumer fraud claims that will devastate your business and maybe even your personal savings.
- You forgot essential clauses like delivery dates, cost of materials, change orders, payment due dates, permitted reasons to terminate the contract or even a detailed version of the specific work to be done.
- One party failed to sign the contract, or the copy you have only has your signature on it.
- You signed the contract in a way that obligates you personally for the contract, instead of your company.
- Your customer signed the contract but had no legal authority to bind his company to it.
- There are no terms to protect your business if your customer steals your ideas or your employees.
- In the event of a lawsuit over a breach of contract, the document requires you to defend your company in a court so far away that your defense costs escalate and you may not get a fair shake.
- There is no clause requiring arbitration or mediation in the event of a disagreement over the contract, leaving costly and time consuming litigation as your only option.
- If government approval is a necessity, there is no clause stating what is to happen if approval is not obtained, or not obtained in a particular point in time.
- There are no details stating any preconditions to performance on the contract like financing approval.
The Business Attorneys to Call
Depending on the transaction, some or all of the above considerations are important. There are many, many more contract clauses that may be recommended to protect your business and deliver the benefit of your bargain. The cost of contract drafting and review by an attorney is always a fraction of the cost of litigating a dispute without a proper contract. Partnering with a good business attorney will protect your success, and avoid the many pitfalls of putting a deal to pen and paper. Give us a call.