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There’s a popular saying in business: “You don’t get what you deserve…You get what you negotiate.”
Make no mistake:The foundation of your business rests upon the final approved contracts you negotiate. A contract is easily defined as an agreement between two or more parties with terms that must be upheld. Yet, whether you’re securing a commercial lease, hiring an employee, or working out arrangements with a supplier or vendor, negotiating a contract properly can be complex and tolling. That’s why your family owned enterprise, small business, or large corporation, will need an experienced attorney to negotiate and form contracts that most benefit you and your business.
The law office of Joseph H. Ostad can help. For more than 20 years, we’ve been helping businesses around the Baltimore-Washington area handle complex contract formation, review and negotiation. Our mission is to always mitigate your risks while putting your company in the best possible position to benefit financially.
Throughout the life of your business, there are literally dozens of contracts you might be required to fulfill. Some are basic contracts you’ll need for operating with vendors on a day-to-day basis. Others will be more complex like contracts with leasing companies and joint ventures with other verticals. There are also often shareholder agreements… partnership agreements… licensing and marketing agreements… distributorship agreements… and non-compete agreements for both key and non-key employees. And you may even need further contracts with customers.
While it’s true most business owners understand the basics of contract negotiation and creation, there are many factors that go into contract negotiation that may not be obvious to even the most astute business person.
For example, because contracts are legally-binding, certain provisions, terms and conditions are often required by law. A landlord, for instance, must give a tenant a specific time frame to complete repairs without penalty or eviction. These parameters and provisions can often vary by state.
This is why it is critical to come to any negotiation fully prepared. That means knowing as many details as possible. A good contract negotiator will conduct extensive research into the law, the businesses involved and even the parties themselves. They need to have the facts, figures and back-up documentation needed to support your cause. Of course, it is the policy of the law office of Joseph Ostad to always attempt to build trust and work cordially with those we are negotiating with. The more trust, the faster an agreement will be reached.
An experienced and knowledgeable contract negotiation attorney can make certain no details get overlooked. He will also be at your side, making certain your company’s interests are fully represented. This could save your business untold amounts of money. Perhaps even more importantly, an experienced contract attorney can protect you from unforeseen litigation and breaches.
A breach of contract is a serious matter that requires expert legal guidance. If a party violates the terms of a contract a lawsuit could ensue. A breach can occur in a multitude of ways, but here is the most common:
For example, a supplier may breach a contract by not delivering certain products and goods to your customer as was agreed upon.
A vendor or employee breaches a contract that prohibits them from sharing proprietary secrets or information.
A shareholder breaches by not living up to his or her end of the bargain.
It is important to minimize the possibility of breach right from the start. This is done by proper negotiation and formation by an experienced attorney. Yet, even then, it’s not always possible to avoid a breach completely. That’s why, if by chance, you are faced with a breach, you’ll want to consult the law offices of Joseph H. Ostad to understand how the breach could impact your business.
When it comes to contract negotiation, experience matters most. The law offices of Joseph H. Ostad have been helping businesses of all sizes and types negotiate leases, partnerships, vendor agreements, employee contracts and more for over 20 years in the Baltimore-Washington area. We’ll handle each step of the process professionally and quickly. We’ll work hard to protect your rights. Please contact us today for a free consultation. You can call 800-320-0080 and talk to us directly or click here to contact us online for setting up an appointment at our Rockville or Baltimore office.