CONTRACT DRAFTING & REVIEW ATTORNEY IN CONWAY, ARKANSAS

We use our words to make agreements all the time. When we’re young, it’s in our nature to trust that other people will follow through on their word. As we grow older, we realize that not all people intend to hold up their end of a verbal agreement. This is where a legally binding contract can come into play: holding both parties accountable for the promises they’ve made.

CONTRACTS THAT PROTECT YOUR BUSINESS

Given the financial nature of business, it’s one of the most common establishments in need of contracts. At a small business, it’s not uncommon to work with family members or close friends, which leads some business owners to think that they can skip the step of contract creation.

This couldn’t be further from the truth! In fact, working with friends and family is one of the top reasons that you do need legally binding contracts in place. And if you aren’t working with them directly, you may still be turning to them for advice and investments. Friends and family invest more than $60 billion in startups each year, and 38% of startup founders report raising an average of $23,000 from their friends and family.

Business contracts can cover a variety of other issues, including:

• Business dissolution

• Non-compete agreements

• Business purchases

• Shareholder agreements

• Non-disclosure contracts

• Employment agreements

• Intellectual property and trade secrets

• Severance and pension packages

Whether you’re an entrepreneur, small business owner, or C-level employee at a larger corporation, we simply can’t downplay the importance of drafting and reviewing your business contracts with an experienced attorney.

CONTRACTS THAT PROTECT YOUR LIVELIHOOD

Business isn’t the only place you may find yourself drafting or signing a contract. In fact, any time you’re asked to sign any contract, it’s worth it to consider hiring an attorney to review. While it isn’t usually likely that another party will hide unreasonable conditions in your contract, it only takes one instance of buried terms and a quick signature to pose big problems in your life. Here are a couple examples:

• You sign a seemingly standard lease agreement with your apartment complex. Before your lease is up, you receive a phenomenal job offer that requires you to move. You didn’t realize it at the time, but you signed a contract stating that you would lose your deposit and pay a $1,000 fine for early termination — even if life circumstances force you to move.

• You hire a graphic designer to create invitations for your wedding. They quote you a high price, but you decide it’s worth it for the quality work you’ll receive. Once they finish the work, you ask that they send you the design files so that you can edit the date on the invitation — and they refuse. Your vendor agreement didn’t cover who owns the intellectual property, meaning the rights automatically defer to the designer.

• These are just two simple and common examples of how important it is to thoroughly review every single contract you sign. From roommate agreements to cell phone plans to activity waivers, contracts are a part of our everyday lives. Let us help you make sure that the contracts you sign are in your best interests.