Negotiating a contract can be a pretty intense process for most people. After all, it’s making sure that everybody involved has ample protection. While some people feel confident at the onset of contract negotiations, it’s important to realize that the process can be incredibly fluid. Even if you’ve crafted your contracts in the past, each new deal will include new parties and unique circumstance. What works for one situation may not be suitable for the next. To best prepare yourself for legal contract negotiation, it’s important to understand your rights and responsibilities, and you can take your prep one step further with one of our affordable business contract lawyers.
Clearly Define Terms, Details, and Conditions of Contract
Contracts can get complicated. Try to be as transparent as possible when it comes to the actual written form of the agreement. If there are unique terms, make sure to define those for the other party. Be as specific as possible, so there is no room for interpretation or misunderstandings.
Likewise, if something is unclear to you or you would like a more detailed breakdown of the contract then be sure to speak up and have your issues addressed. Remember, this is not about one side getting everything they want while the other person just settles. Both parties should feel like they gained and compromised to come to an agreeable contract.
Pay Attention to Special Contract Clauses
Clauses can be the silent killer of contracts. Make sure that all additional provisions are understood. Standard clauses for contracts include non-compete agreements, non-disclosure agreements, or other unique terms. Be aware of them and make sure that you actually agree with them before you sign.
Don’t Rely on Verbal Agreements
If it’s not in the contract, then it’s not legally binding. Even if the other party promises to adhere to other agreements outside the contract, you simply can’t count on that. This isn’t to say that the other party is untrustworthy, it just means that due diligence is critical. Words won’t stand up in court.
Know When to Say No
Some people are natural negotiators, and it can sometimes be challenging to say no to people. However, when it comes to signing a legal document, you have to think of the bigger picture. If it doesn’t feel right, then know that it’s okay to walk away. There are always more opportunities that may be better for your goals.
Online Legal Services
Contracts are best handled by professionals. A contract attorney from LawTrades can help you draft up an agreement and look over any contract that you’ve drafted yourself. Lawyers are skilled at identifying weak areas and crafting a substantial agreement that doesn’t have any legal loopholes. We’re happy to connect you with a qualified business contract lawyer. Because contracts can be an ongoing aspect of the business, you may also be interested in signing up for one of our legal services plans. With this option, you have unlimited legal consultations, a $0 service fee, and discounted hourly rates. If you know you are going to need legal services for an extended period, this option could save you considerable time and money.