Whether you own a technology company or a manufacturing facility, protecting your company’s secret, competitive advantages is vital to your long-term business success. A Non-disclosure Agreement, also called an NDA or Confidentiality Agreement, is a type of contract that helps protect your trade secrets and specific intricacies of your business. In an NDA, you and […]
If you invent something with the intention of selling it, you can license it while still retaining ownership of the invention. In other words, the people and companies that you may license your technology to only retain use of your invention, according to any terms you agree to. Or, if you are interested in using […]
An experienced attorney will draft a Purchase Agreement based on specifically what is being bought and sold. Different business circumstances require different elements in a Purchase Agreement; no two Purchase Agreements are alike. Houses, businesses, and equipment are just a few examples of what Purchase Agreements cover. No matter what it is, a Purchase Agreement […]
In many cases, a Lease Agreement is like an advertisement to a prospective Tenant; if it is fair and equitable, a Tenant is likely to lease. If not, the Tenant may bring business elsewhere. On the other hand, a Commercial Lease Agreement must also secure the Landlord’s interests in protecting the property. An experienced commercial property […]
Business Contract Needs
Minnesota businesses are growing quickly. If your business is taking off, chances are you are both using and signing many different contracts. You may benefit by creating form contracts for routine situations. For both routine and one-time transactions, you should seek legal counsel.
When conducting day-to-day business, you may enter into contracts with suppliers, vendors, contractors, distributors, and others. As your business grows, you may enter into purchase and stock agreements. Large contracts, and sometimes even small ones, should always be negotiated.
When finding new business partners, drafting agreements, and negotiating contracts, you should obtain representation from experienced legal counsel. Experienced attorneys regularly work with business professionals to advance and protect company interests.
Contracts Are Businesses' Most Important Legal Tool and Must Be Taken Seriously
As a business, you may enter into contracts rather frequently. These contracts may be with suppliers, vendors, employees, independent contractors, distributors, landlords, and various other third parties. The purpose of your existing contract with these parties is to capture the terms of your agreement and define expectations. This helps distribute the risk of your transaction and protects your interests while working with these parties.
Drafting contracts, negotiating their terms, and discussing ways to make parties comfortable with the deal, requires negotiation skills, understanding of the law, and the foresight to protect your business from potentially unwanted circumstances. As such, legal counsel has an important role in helping your business make contracts, sign them, and execute them, all the while helping you maintain important business relationships for future collaboration. In today’s world, written contracts (as opposed to verbal ones) are vitally important to protect your interests, placing greater emphasis on ensuring the exact written terms of your agreements benefit you, without the potential for hardship.
While each business’s situation is unique, there are different types of written contracts that every business should use. Some of the common ones include: entity formation documents, confidentiality/non-disclosure agreements, independent contractor agreements, sales contracts, leases, purchase agreements, stock options and agreements, service agreements, and more. Often, these contracts are drafted and negotiated individually, but some businesses choose to draft standardized contracts to simplify the contract negotiating process. An experienced business attorney can help you determine which contracting strategy best suits your business needs.
Whether you own a technology company or a manufacturing facility, protecting your company’s secret, competitive advantages is vital to your […]
If you invent something with the intention of selling it, you can license it while still retaining ownership of the […]
An experienced attorney will draft a Purchase Agreement based on specifically what is being bought and sold. Different business circumstances […]
In many cases, a Lease Agreement is like an advertisement to a prospective Tenant; if it is fair and equitable, […]
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