Running a successful business often requires entering into many different kinds of contracts, each of which can contain numerous complex legal provisions. Some examples of common contracts you may require for your business include:
IP transfer agreements
Consulting or freelance agreements
Each of these contracts will have a different focus and will involve different rights and obligations of the parties signing the contract.
The importance of a carefully drafted contract
Too many startups and business owners use or sign boilerplate contracts without considering whether these contracts cover all of the necessary bases and fulfill their needs. Just as no two businesses are exactly alike, there is no one-size- fits-all approach to business contracts. Instead, the terms of each contract should be specifically tailored to your individual business and the situation at hand.
If you fail to address certain issues or include certain provisions, you risk facing significant liability should something go wrong. For example, if the other party does not fulfill their obligations or otherwise violates the agreement, your right to financial recovery may not be preserved. In addition, you may find your business is held legally liable in situations in which you could have been protected. Also, if a contract does not comply with California law, it may be held unenforceable and your valuable intellectual property or assets may be at risk.
In order to make sure your business receives all of the benefits to which it is entitled in a contract, as well as avoids unnecessary liability and loss, it is critical to have an experienced attorney draft and review your contracts. While it may seem tempting to use an online contract package, these boilerplate contracts do not take your particular situation into account and can leave you financially vulnerable should a dispute arise in the future.
Contact the Law Offices of Nate Kelly today
Whether you are trying to get your startup off the ground or you would like assistance maximizing the revenue of an established small business, quality contract drafting and review are essential to your success. Our team can provide the legal knowledge and skill necessary to ensure that each and every contract into which you enter is carefully drafted to comply with California law, to clearly set out the rights and obligations of each party, and to protect you from legal liability. Whether you need one contract drafted or many, we are here to help with flexible compensation arrangements that work for you and your business. Call us today at 415-336-3001 or contact us online.