Good business contracts can potentially make or break your business. Signing contracts without having a lawyer review them can also be a big mistake because there can be tricky language that is unclear to non-lawyers. Some of the most important clauses in business contracts involve the “term” (length of the contract), the “consideration” (payment changing hands) and “rights” (what is given by one party to another).
There is no substitute for having a lawyer who understands your business (whether it’s music publishing, film trailers, art licensing, apparel manufacturing, online retail store services or another creative endeavor) write and review your business contracts.
How Can a Good Business Contract Help my Business?
A good business contract can be immensely beneficial to your business. A good business contract can potentially lead to greater income, longer duration of income, more rights for your business, and less costly ways to resolve issues that might arise between the parties.
How Can a Bad Business Contract Harm my Business?
A bad business contract can be one that lasts too long, favors the other side, gives away too many rights, or gives away too much money or time, and much more. These issues can potentially cost your business time and money and take away from what you can offer other clients or customers. Therefore, it is important to have an experienced attorney read each and every word in your contracts to help prevent problems.