Contracts are the trip wire to closing the deal, the roadmap of promises and a shield against crazy arguments. They are essential, legally and practically. A good contract memorializes the terms of your deal, cleanly and clearly. A great contract is a good one you can use, again and again, saving you money and hassle.  We write great contracts.  

 

You’d be amazed how often people hire me to fix deals done on a handshake. The industry differs, but the fact patterns are identical. A good guy has been working with a bigger, richer group in the hope – backed by vague promises – that any day now he’d get paid cash and stock. Years go by, the guy’s investment grows, but his payout doesn’t materialize. The guy usually comes to me for help when the venture is just about to hit it big. Often, at that point, it’s too late. The group has built a business and resources and can replace him. The guy has to rely on the group’s good will or fear of litigation to make him whole. It rarely happens. I’ve helped people with these facts in alcohol importing, live theatrical events, hedge funds, web app development, real estate development, films and book publishing, among others.

 

What a contract does for you

A contract is important because it forces you to have a conversation with the other parties about what you will do, pay and own when the deal is done.  In the course of the conversation, you get to see whether the other party is decent or douchey, and whether you have the same expectations. The written document gives you a roadmap through your work. Your signature is the starter pistol, triggering the deal.

 

(Most people think the contract is important because you can wave it in front of a judge if things go badly, but that’s 5th on the list.)

 

Here’s Why You Will Avoid the Contract

There are human, predictable reasons why you and lots of other people avoid contracts. Opportunities seem scarce; great ones seem invaluable, worthy of a risk. As an entrepreneur, you are optimistic about your abilities and the good will of others – that’s what empowers you to run your own show in the first place. Asking for terms, in writing, complicates your new relationship and shows mistrust. Plus, you just want to get to work.

 

I get it. For years, I was just a lawyer and I didn’t get it. Then, I became an entrepreneur and I suddenly didn’t want to blow my own opportunities. So, I’m going to tell you the truth.

 

Here’s Why You Need a Contract

Putting things into a contract could skew your deal in all kinds of ways. Sure, asking for what you want may turn off the other side. The other side could insist that no contract is necessary (which is a red flag). But, the real danger is what the conversation could reveal to you.  You may see traits in the other people that scare you. You may learn that the possible benefits aren’t that great. But, you could also clarify your obligations and your expectations, deepening your relationships with your partners. In the end, you get what all great business people need: data to make decisions to keep control over your future.

 

Here's Why You Need a Corporate Lawyer

Corporate lawyers are the backbone of a business. We create the platform of the company on which the owners and managers build a successful business. Everything starts and ends with the corporate lawyers – setting up the company, getting funded, protecting your rights, buying and selling things, obeying regulations and selling, dissolving or passing the business down to the next generation. That’s us.

 

Here’s what a good corporate lawyer can do for you:

• Figure out control issues and resolve disputes with your co-founders

• Understand the differences among trademarks, copyrights and patents and show you how to identify and protect yours

• Find the regulations that govern you and what you have to do to follow them

• Draft a contract to sell your products or services to your customers, limiting your liability

• Show you the things in your contracts to worry about and fix them

• Position your business for the exit you want – to grow, get rich or dissolve your company

• See and navigate around pitfalls and landmines.