As a busy owner of a business, you may be signing contracts left and right without even reading them through. In fact, chances are you skim through most of the content even if you do go through them. Unfortunately, signing agreements too quickly without focusing on the details is a recipe for disaster. Here are just some of the reasons you should hire a lawyer to look through your contract before you sign that dotted line.
Prevent Catastrophic Decisions
The money you can lose by foregoing an attorney to review all business contracts and agreements can be immense compared to the cost of hiring one to look through them before signing. A professional who can discuss how the deal works for you from your perspective can help you decide whether the contract should be signed or not. He/she can also help you determine potential roadblocks down the road and assist you with negotiating the terms that can prevent them.
Get a Different Perspective
As a business owner, chances are you view all of the documents that pass through your desk through a profit/loss/marketing lens or anything else that can help you determine how it can benefit you or bring you down. An attorney who is proficient in reading those contracts can give you an outsider’s perspective that can help you see those terms in a variety of situations or without distractions.
Avoid Potential Lawsuits
It all comes down to avoiding risks. If, even after reviewing a contract, you make a mistake and sign it anyway, you can end up paying a hefty amount in court to someone else. A lawyer can prevent this from happening by going through the terms thoroughly.
Level the Playing Field
When you are approached with a contract by a third party, chances are that it was created by their own attorney who only had his/her client’s needs in mind. There are a number of terms in a legal agreement that can derail your business in the long run if they are not nipped in the bud. By hiring an attorney yourself, you can ensure that both parties are protected equally. This includes making sure that all essential terms are included in the document which can otherwise be unenforceable in a court or otherwise.
As the owner of an organisation, we are not telling you to remove your focus from operations. Just hire an attorney who is experienced in drafting and reviewing contracts and who has your best interests at heart. That is where Jackson Longe Solicitors can help you. Get in touch with us for a consultation today.