Anyone in Michigan or elsewhere who has gone into business for him or herself knows that there is a certain art to making it all work. Rarely do things just fall into place. Serious thought, consideration and discipline is required, the absence of which can lead to significant consequences. This is particularly true when writing business contracts.
There really is an art to writing contracts that are well-rounded and provide the best protection for one’s business. Those who try to do it on their own may not be familiar with all legal requirements, or they may not take the time to fully consider how including or not including certain stipulations may leave them vulnerable. Planning for potential problems is key in producing a quality business contract.
When writing or accepting contracts, there are certain basics to consider. One of the most important things one can do is make sure everything is documented. Not having something in writing can make agreements difficult to enforce. Also, the language in which a contract is written can cause significant problems. If legal documents are written in a way that both sides cannot fully understand, how can one know his or her best interests are truly represented?
Contracts need to be detailed, account for confidentiality concerns, payment details and even terms of termination. An attorney who is skilled in the art of drafting business contracts can help ensure these and other potential problems are avoided. Further assistance can also be offered to Michigan business owners if the validity of contracts or other disputes come into question.
Source: FindLaw, “How to Write a Business Contract“, Accessed on July 30, 2015