Can A Lawyer Help My Business Negotiate with Vendors?

Most business will eventually need to contract with outside vendors and others in order to meet business operations and success. A contract attorney provides a valuable resource for any activity requiring a contract, and more businesses are understanding the necessity of a contract that details the role of each party and provides legal protections.

What Does a Contract Attorney Do?

Contracts establish legally enforceable obligations between the parties and working with an attorney helps ensure that any contracts your business enters are executed properly and your interests are protected. Contract attorneys can review potential contracts, draft new contracts, evaluate existing contracts in disputes, and handle breach of contracts. Whether drafting a new contract or reviewing an existing one, a contract attorney can prove vital in key areas such as:

• Terms: Contracts spell out the essential terms, or the fundamental conditions of the contract, which detail the obligations of each party and what actions are considered a breach of contract.
• Provisions: Contract provisions are additional stipulations clarifying specific points and provide extra protection for all parties.
• Laws: Contracts must abide by the local and state laws and regulations of the jurisdiction where they are filed. Working with an experienced attorney rather than adapting an online contract template is particularly valuable to your specific business.

Why Should I Hire a Contract Attorney?

Contract attorneys have extensive experience in contractual issues and applicable state laws, and may have specialty practice areas, such as intellectual property, tax, licensing, or sales agreement contracts. Working with a seasoned contract attorney is beneficial as they will provide:

• In-depth understanding: Legal terminology can be complex and confusing, and managing contracts without a comprehensive understanding of legal jargon can leave you open to liabilities, inaccurate assumptions, and other critical problems. Contract lawyers are knowledgeable in contractual legal terminology and can help you achieve a better understanding.
• Smooth negotiations: Contract negotiations can go off the rails if one or more parties takes offense of the terms. An attorney will take responsibility for drafting and executing the contract as an impartial party, preventing such a situation from occurring.
• Incorporate laws: Local and state laws and industry regulations frequently change and must be correctly detailed within contracts. A contract attorney possesses vast knowledge of the most current laws, regulations and trends and will ensure that your contract meets legislation.
• Prevent loopholes: The purpose of a contract is to provide protection for you and your business. Loopholes, whether intentional or otherwise, can put you at-risk of potential liabilities. When drafting the contract your attorney will make certain no loopholes are included.
• Ensure terms: The essential terms of the contract are vital, as they detail what each party is responsible for, and the consequences should the terms be violated. Your attorney will include the best possible terms related to your industry and to protect you from disputes.
• Protect you: Your contract attorney will ensure the contract includes specific information as to what constitutes a breach of contract and the consequences. Your attorney will also be a valuable resource for enforcing the contract should a breach occur in the future.

Whether you are starting a new business, establishing new vendor relationships, or experiencing a breach of contract, working with an experienced contract attorney is valuable to your business’s protection and future success.

Philadelphia Business Lawyers at Sidkoff, Pincus & Green P.C. Help Businesses Develop and Negotiate Contracts

All businesses enter into some form of contract with vendors and others at some point during the life of the business. Contracts are necessary to provide clearly defined terms and protection for all parties. The experienced Philadelphia business lawyers at Sidkoff, Pincus & Green P.C. work with many business clients to draft and execute many types of contracts. Contact us online or call 215-574-0600 for an initial consultation. Located in Philadelphia, we also serve clients in South Jersey, New Jersey and Pennsylvania.