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By Sanjeev Kumar
Founding Attorney

In the business world, contracts are going to come up, one way or another. Contracts in business serve a variety of purposes and can be useful both internally and when establishing relationships with vendors and clients. When properly executed, contracts can protect your business dealings and promote the sustainable growth of your business endeavors. When proper precautions are taken when contracting, however, there can be serious and lasting repercussions. The fallout can be both immediate and be felt for an extended period of time as problems further develop and potential litigation ensues. So, to help contracts serve you and your business as opposed to working against both, you may want to consider retaining a dedicated business contract attorney to help your small business succeed.

How a Business Contract Attorney Can Help Your Small Business

If you are in business, you are going to be in contracts. These legally binding documents will serve a variety of purposes. Some of the most common types of business contracts include:

  • Service contracts: These are contracts between a buyer and seller. You may want to enter into a service agreement for something like leasing equipment you need for a particular job. You may also want to be the service provider, if this is part of the business services you provide, in the contract and need the service contract to send to customers and clients.
  • Investment contracts: When you are starting a small business, investors can be critical to getting things off the ground. If you are bringing investors in to invest in your business, you will need an investment contract in place to help ensure the arrangement is mutually beneficial to you and your investor. You want to protect yourself and your business, but you will also want to make sure that the people giving you money to run your business are properly protected as well.
  • Partnership agreements: If you want to bring other entrepreneurs on board to help in the running and growing of your business, you will want a partnership agreement in place so that expectations for this important relationship are managed. A partnership agreement will outline each partner’s roles and responsibilities in the running of the business.

These are just a few examples of the business contracts you may need for your business. Retaining a business contracts attorney can help make sure that they are up to snuff, serve the purposes they are intended to serve, and are not needlessly exposing you to potential pitfalls. For starters, a business attorney can see if there are any loopholes in the contract and that the contract falls in line with the latest legislation developments. Furthermore, your attorney can help ensure that the contract has the most favorable terms to protect and promote your best interests and that of your business. On top of all of this, your attorney can help you understand what the agreement is saying and what its practical impacts will have for you and the business.

Business Law Attorney

If you need a business contract drafted or reviewed, you can count on the Kumar Law Firm to help ensure it is a strong contract aimed at serving the right purpose and protecting your interests. Contact us today.

About the Author
Sanjeev Kumar is the founder and principal at the Kumar Law Firm, which provides a wide range of legal services to entrepreneurs and business owners in the area of business & corporate law and intellectual property along with related areas of interest to clients such as business succession planning, wealth preservation through estate planning, and alternate dispute resolution.