Virtually all business activities are controlled by an underlying contract. While a properly drafted contract can maximize your flexibility and limit your liability, an improperly drafted contract can instead lead to troubles involvingbusiness litigationand even potential losses for your company. To ensure that you are taking the right steps and not overlooking any important details, you should team up with our Houston business attorneys from Law Offices of Mark A. Correro.
Every contract involves an agreement between two or more parties. For example, an employment contract outlines an employee’s duties to the company and the company’s obligations to the employee. Obviously, you will want to protect your best interests when drafting a contract so that you maximize your legal protections and limit you exposure to liability. Setting up the contract to avoid this problem, however, is not necessarily a straightforward process.
A few questions to consider while drafting a contract are:
Who are the correct parties?
Will the contract end at a certain time?
What are the essential terms?
How much time should it give the other side to accept?
Is anything confidential or a trade secret?
Should the contract include a non-compete clause?
What happens if one party wants to terminate the contract?
Do any federal or state laws impact the contract?
How will a dispute over the contract be resolved?
While these are certainly all important aspects of drafting a business contract, this is not an all-inclusive list. Your contract is sure to run into unique circumstances that will require close attention. After all, the ultimate goal is to create a binding legal agreement that is particular to your situation and addresses your concerns before a problem arises.
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Many issues that end up in expensive litigation can easily be addressed and avoided. It is crucial that you address potential problems and concerns by taking the time to properly draft the contract initially.While this is an understandably stressful process, our team of corporate lawyers in Houston is confident that they can assist you. We have decades of experience in cases ranging from contract formation tobreach of contract disputes, giving us the insight needed to help you form an effective, binding document.