Contracts are an inescapable part of business today. In the fast-paced world of startups, it is not always possible (or worth it) to have a lawyer review (or sometimes even draft) the contracts you encounter. The business world moves quickly. The legal world does not. That means, it is up to entrepreneurs to equip themselves to better understand what is contained in contracts and why clauses are important.
Here at Legal to English, we not only focus on the how, but also the why of contract drafting. This guide will help you consume the content focused on how to better understand and even how to draft better contracts. This guide is a good place to get started to see all of the content on contract drafting in an order that will help you get started and on the way to drafting contracts that protect your business!
This guide to contract drafting will not only help you better understand the contracts you read everyday, but also will equip you to draft contracts yourself that actually protect your business.
Contracts are self-contained explanations of a relationship between two parties. To better break it down, you need to make sure your contract is clear and is not subject to more than one meaning. You also need to make sure you have covered the what-ifs and the unexpected occurrences that may come up during the relationship. Contracts can be created in many different ways. One of the most important skills for an entrepreneur to learn is to get it in writing.
Contracts are about making it easy for everyone involved or who might be involved in a deal to understand the terms of the contract. When drafting a contract, make sure you:
It is not enough to simply draft strong contracts. You have to make sure they work in for your business. After you have drafted a contract, you need to make sure it:
When You Don’t Have a Contract
Sometimes, you don’t have a contract to lean on. Even if that happens, you may be able to protect yourself, if you take steps before there is an issue with the agreement. Here, we talk about what you can do when you didn’t get it in writing.
In an increasingly digital age, many businesses are moving agreements online. These posts discuss what you should consider in your online contracts:
Some contracts are more involved than commonly used boiler-plate template contracts. Sometimes, you negotiate a contract. Whether or not you have a lawyer involved, these posts will help you get the deal closed:
Some contracts require special consideration. Though the contract drafting tips apply, you should also consider this information for your more specific types of contracts:
Don’t Miss Another Tip
Every Friday, we dive deeper into the legal issues affecting your business every day. The conversation is about helping you sleep better knowing your business is protected. Every Friday you will receive tips and tricks to deal with the legal issues you see everyday. Don’t miss another one.