Houses wouldn’t be successful without blueprints, films wouldn’t be successful without scripts, and business dealings wouldn’t be successful without contracts. Contracts are arguably one of the most, if not the most, important building blocks for ensuring a smooth and successful exchange of goods, services, and capital. Therefore, it is of paramount importance that your business entity is fully-equipped to first draft, then negotiate, and finally, enforce its contracts.
Whatever the size, age, or nature of your business venture, contracts are key — but contracts can also be dense, ambiguous, and complicated. Furthermore, companies can run into trouble when outside parties deliberately or accidentally fail to comply with contractual terms. For all of these reasons, retaining a seasoned and knowledgeable team of contract attorneys is vital to your business’ success.
While contracts may seem relatively “basic” and well-known compared to some of the other more obscure documents pertaining to the commercial world, they are actually among the most critical documents your business will ever create. Contracts define the very nature of any exchange between two companies — and when time, effort, and money is on the line, the precise nature of those contracts can have massive ramifications for how business deals actually play out in the real world. A seemingly minute variation in wording can lead to huge profit losses, or even forfeiture of certain legal rights. An experienced contract attorney, on the other hand, is extremely well-versed in the technicalities of contract language and its effects upon transactions. To ensure that your business is getting the most out of any deal, having a thoroughly and solidly written contract in place is of utmost importance.
Contracts are not always simply written, and then accepted. There are many circumstances in which the terms of a contract may be surprising, disadvantageous, or even downright unacceptable to proceed upon. When this is the case, negotiation of contractual terms is often much more cost-effective and time-efficient than the alternatives of either cancelling the deal, or re-writing a contract from scratch.
However, as in the writing of the original contract, the details of a negotiation are highly important. (In fact, negotiations can be even more crucial than the original drafting, because once negotiations are settled upon, there is no more opportunity for the contract to be easily changed without entering modification talks.) When negotiating a contract, businesses must take care that the new terms are also agreeable and can realistically be accommodated. The contract lawyers at Berkowitz Klein can guide your company through negotiations to work toward finding the most favorable terms possible.
Once a contract has been conceived of and agreed to, it obviously must be referred — and adhered — to for the duration of a business deal. Normally, companies do their best to meet the terms they have agreed upon. But sometimes, whether through miscommunication, deliberate avoidance, or an unforeseen change in circumstances, the terms of a contract are not satisfactorily met. When that happens, it may be necessary to bring in legal assistance to aid in matters of contract enforcement.
In the best case scenario, enforcing a contract is a relatively simple matter. For example, if the failure to comply with the contract was a result of an honest misunderstanding, the error or lack of action is likely be fixed with little delay or resistance. However, if a company is persistent in dodging the payments, deliveries, or services it promised — and is legally bound to provide — pursuing litigation may be the appropriate action.