From the deals that allow you to obtain raw products from suppliers, to accounts payable to vendors, to a lease on your brick and mortar location, a company’s holdings and liabilities are mainly in contract form. As a result, it is clear how effective contract negotiation and drafting is essential to the health of your business. Proper negotiations can help protect your legal rights and prevent future disputes.
A Bloomington contract negotiations and drafting lawyer may be able to help your business grow. A knowledgeable business attorney can meet with you to evaluate your goals and work towards drafting contracts to make those goals a reality.
Why Proper Contract Negotiations is Essential
Contracts ensure that each party has a legal obligation to perform, but also give each party a motivation to do so. Of course, this dynamic extends into every portion of doing business.
Negotiating terms of contracts is essential when hiring staff, leasing a business space, and even working out distribution deals. A Bloomington contract negotiations and drafting attorney can help to promote a company’s interests in all these situations.
Having a representative during any negotiation is advisable. An detail-oriented attorney can help make sure a contract is fair to each party, as well as legally enforceable in Bloomington.
Writing Enforceable Contracts in Bloomington
The legal definition of what constitutes a contract is relatively open-ended. As long as two parties intend to create a deal whereby one party provides something of value to another, and there is an exchange of something of value, there is a contract.
Verbal contracts are also valid under the law, though highly inadvisable in the business world. However, MN Statute §336.2-201 requires that any contract for the sale of goods that have a price of $500 or more must be in writing.
Because courts will interpret contracts, it is essential to make sure a contract clearly states one’s intent. Whether this is a contract to hire an executive officer, lease real estate, or arrange a sale, placing the contract in writing and in clear, unambiguous language is essential.
Naturally, the negotiation and drafting of business contracts go hand-in-hand. A Bloomington contract negotiations and drafting lawyer could help write legal documents that clearly state the obligations of all parties and that carry weight in court.
A Bloomington Contract Negotiations and Drafting Attorney Can Help
Running a business requires a certain comfort with contracts. Every part of a business requires contracts. However, not all contracts are equal. Effective business leaders negotiate their contracts before signing and work to use language that is clear and precise.
A Bloomington contract negotiations and drafting lawyer could help you with your business’s contract requirements. They can work with you to understand your goals and fight for contract terms that meet those goals. In addition, they can draft contracts that clearly outline the responsibilities of all parties and that meet the State’s legal requirements. Call today to learn how an attorney could help your company.