You would not hand over a business card printed on copy paper, designed with clipart and printed on your home inkjet printer. So why would you hand over a poorly drafted contract which fails to protect your business interests.
When clients come to lawyers with legal problems, the source of that problem usually arises from poor Legal Documents (Contracts) or governance problems. It is far less common for us to see clients with solid legally binding and clear contracts. The hypothesis here is those with solid Legal Documents are able to avoid or resolve disputes without resorting to lawyers, litigation and the courts. There is no doubt, prevention is better than the cure.
5 reasons why you should have professionally drafted Legal Documents
There are many benefits of having quality Legal Documents drafted for your business before you enter into any transaction, here are 5 of them.
To protect your business interests. The process of preparing and reviewing a contract brings together a meeting of minds between the parties. It helps to communicate each party’s expectations, the obligations imposed upon them and also assists in bedding down the scope of the transaction.
Protect your business relationships. The biggest cause of relationship breakdown arises from a failure in communication. Parties which clearly understand their obligations and can resolve disputes amicably between themselves are more likely to continue to have mutually beneficial relationships.
Minimise the risk of disputes. Few businesses are able to avoid disputes indefinitely. When parties are forced to resort to the courts, they can usually expect tens, if not hundreds of thousands, of dollars in legal costs. Legal Documents are cheaper than litigation and save you money in the long run.
Professional image. With quality drafted Legal Documents, your business presents as professional, well run and organised. Contracts drafted by skilled commercial lawyers shows you are open for business and are not cutting any corners.
Saves legal costs where a dispute arises. In the event of a dispute the parties can refer to the Legal Documents as a source of truth, or higher power, to help them resolve the issue at hand. Even if one party fails to comprehend their obligations, a well drafted contract will assist lawyers in resolving disputes and advise their clients. Hopefully without the need to progress all the way to an expensive trial.
Need a contract drafted?
Our expert commercial lawyers read, review and draft contracts every day.
We aim to limit the likelihood of disputes by drafting clear and concise Legal Documents. These assist your business in maximising the benefit from any transaction. With experience across a wide range of industries and qualifications in business, accounting, IT and law we are able to deliver practical contracts which help, not hinder, your operations.
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