Contracts are a common part of doing business, from business transactions to nondisclosure agreements. Having your corporate lawyer draft these contracts can help reduce risks for your business and help protect you against negative outcomes. While it may be tempting to look for free or low-cost one-size-fits-all contract forms, there are several reasons why this may not be the best idea for your company.
What is Contract Drafting from a Corporate Lawyer?
Contract drafting from your business lawyer is where your attorney gathers information about the specifics of the deal and creates a contract for that transaction. Contracts are written agreements between two parties that outline rights and duties. For example, an employment contract usually details information like types of offenses that give the employer a right to terminate employment and some information about compensation for the employee.
Some common contracts you may need for your business include:
- Employment contracts
- Non-compete contracts
- Non-disclosure agreements
- Vendor contracts
- Partnership agreements
- Loan contracts
- Property and equipment lease agreements
- Service contracts
- Confidentiality agreements
Whatever type of contract you need for your business, your corporate lawyer helps identify key details about the contract and writes the document to suit those needs. Contract drafting involves using clear, concise language to create a legally binding agreement.
Why Not Download Free Contracts on the Internet?
However, you may have noticed that there are many standard contracts that you can download on the internet. Many of these are free to download. This can be tempting as a way to save money for your business, but this can lead to many risks for your business. That’s why many companies work with a corporate lawyer to create contracts.
Free contract forms can be dangerous for your business. Often, these forms use broad, non-specific information and language in an effort to be a one-size-fits-all solution. However, this can actually make them ineffective for practically any situation. Contracts should include specifics about the agreement. They should also be tailored to the deal at hand as a way to help mitigate risks for your business. Otherwise, you could face expensive legal battles.
Also, many of these free contracts may actually be unenforceable. With free contract forms from the internet, there is a chance that the document doesn’t fit the laws and regulations that govern your state or local municipality. Even if the contract says it was drafted based on Texas laws, these laws can change at any time. Therefore, without counsel from your corporate lawyer, you may be risking using language or terms that aren’t actually legal. Instead, work with your business lawyer to draft contracts to help stay on the right side of the law and help reduce risks for your company.
Legal Counsel from G. Ortega Law
At G. Ortega Law, we provide legal counsel for businesses in a wide range of industries. In addition to contract drafting, review, and negotiation, we also offer legal advice on a variety of situations, from employment law to corporate workouts. We offer outsourced general counsel for businesses who don’t necessarily need a full-time in-house attorney but still need a team that gets to know them and understands the business. Our focus is providing you with relationship-driven representation based on your needs and budget.