Business Contracts and Agreements Attorney Based in New York

Business contract lawyers assist in drafting and creating the appropriate contracts involving your business including employment, consulting, and termination and severance agreements, leases, providing for the sale or purchase of a business, agreements among owners of a business and, often, non-standard agreements that address particular business situations.

When to Hire a Contract Lawyer

Businesses may benefit from hiring a contract lawyer in many situations. Here are some examples of situations where businesses or business owners hire a contract attorney:

Starting a New Business

When starting a new business, there are many legal considerations to keep in mind, such as forming an entity, creating shareholder agreements, and drafting employment contracts. A contract lawyer can assist with ensuring that these documents are legally sound and properly executed.

Complex Business Transactions

Complex business transactions, such as mergers and acquisitions, sales and purchases of businesses, forming businesses, agreements among investors and other partners, joint ventures, and licensing agreements, require meticulous attention to detail. A contract lawyer can ensure that their client comprehends the terms of the agreement and that the agreement is legally binding.

Disputes

Disputes between business partners, employers and employees or consultants, parties to a contract and others can be intricate and have severe consequences. A contract lawyer can assist a client in negotiating these disputes and draft an agreement that provides for the resolution of the disputes and provides for the resolution of future disputes.

Benefits of Hiring an Experienced Contract Lawyer

Identification of Legal Pitfalls

Hiring a contract lawyer for your business provides the advantage of having a professional who can recognize potential legal issues and ensure that your contracts are legally enforceable.

Efficient Use of Time and Money

Contract lawyers can assist businesses in saving time and money by simplifying the contract negotiation process and resolving disputes in a quick and efficient manner.

Risk Reduction

Contract lawyers can help businesses lessen risk by ensuring that their contracts reflect the agreement’s terms precisely and by anticipating possible legal issues before they turn into major problems.

Access to Other Experts

It is important to retain a contract lawyer who has access to lawyers with other areas of expertise, such as tax and intellectual property, and to accountants and valuation experts.

Types of Business Agreements

Business agreements refer to contracts that are specific to a particular type of business transaction or relationship. Here are some common types of business agreements:

Non-disclosure Agreements

A non-disclosure agreement (NDA) is a contract that requires parties to keep certain information confidential. NDAs are often used in business to safeguard trade secrets, confidential information, and intellectual property.

Employment Agreements

Employment contracts are agreements between an employer and an employee that provide the terms and conditions of employment. These contracts typically cover issues such as compensation, benefits, duties and responsibilities, termination, and confidentiality.

Consulting Agreements

Consulting agreements define the contractual relationship between a consultant and a business, outlining the consultant’s duties and responsibilities, compensation, benefits, and conditions for termination. The agreement often includes a confidentiality clause to protect sensitive company information, ensuring the consultant will not disclose any proprietary details outside the agreed parameters.

Termination Agreements

Termination agreements are agreements between an employer and an employee who is being terminated that provide for post-termination compensation and insurance, non-competition, confidentiality, and non-disparagement and other particular matters that relate to the employee’s job.

Partnership Agreements

Partnership agreements are contracts between two or more individuals or entities who agree to operate a business together. These agreements typically cover issues such as ownership, profit sharing, decision-making, and dissolution.

Additionally, partnership agreements also outline partner contributions, detailing what each party will bring into the business, be it capital, property, or skills. They also provide for the resolution of disputes, detail each partner’s roles and responsibilities, define procedures for the introduction of new partners, and establish protocols for a partner’s departure, death, or incapacity.

Sale and Purchase Agreements

Sale and purchase agreements are contracts that govern the sale and purchase of goods or services. These agreements typically include the terms and conditions of the sale, such as price, delivery, warranties, and payment terms

When extended to the sale and purchase of an entire business, these agreements become more complex and encompass details about the assets and liabilities being transferred. These assets and liabilities may include property, equipment, inventory, and client lists.

The agreement will specify whether the transaction is an asset sale or a share sale, affecting how the business’s liabilities are handled. Furthermore, it often includes non-compete and confidentiality clauses, as well as terms related to indemnity and the resolution of potential disputes.

M&A Agreements

Mergers and acquisition agreements govern the consolidation of two companies into a single entity (merger) or the purchase of one company by another (acquisition). These agreements cover the deal structure, purchase price, payment method, and conditions precedent for the deal to close. They may also include warranties and indemnities regarding the status of the company being acquired, as well as plans for the business post-transaction.

Service Agreements

Service agreements are contracts that define the level of service that one party will provide to another. They are commonly used in business relationships where one party provides services to another, such as IT services or consulting or designing and setting up a website.

The Significance of Business Agreements

Crafting a business agreement when conducting any business deal is crucial to defining the rights, responsibilities, and obligations of each party, thereby avoiding ambiguity and potential misunderstandings.

Moreover, these agreements provide a legal framework for resolving disputes, ensure compliance with applicable laws, and offer protections for involved parties, such as confidentiality clauses and delineated terms for termination or dissolution.

By outlining the rules of engagement, business agreements help protect the interests of stakeholders and contribute to the stability of business dealings.
Drafting, Reviewing, and Negotiating Business Contracts and Agreements

Drafting, Reviewing, and Negotiating Business Contracts and Agreements

Creating a business contract or agreement involves careful thought and attention to detail. Key elements must be included in the contract to cover the underlying business deal and eventualities. It is also crucial to ensure that the language used is clear and unambiguous to prevent disputes and legal challenges. When drafting the agreement, it must meet all legal requirements and include all relevant information.

Reviewing Business Contracts and Agreements

Once the contract is created, it should be reviewed and revised as necessary. This includes verifying that the language is accurate and complete, all provisions to reflect the underlying business deal are present, and that the contract reflects the business and legal environment.

Negotiating Business Contracts

Negotiating a business contract or agreement requires preparation and research to understand the legal and business context of the agreement. It is important to define the terms and conditions of the contract, identify and allocate risks, and resolve any conflicts. Negotiation should consider the interests and objectives of both parties, and a successful negotiation can result in an agreement that satisfies both parties and minimizes future disputes.

Common Issues in Business Contracts and Agreements:

When creating business contracts and agreements, there are several common pitfalls that businesses should avoid to prevent legal problems and disputes. Here are some of them:

• Ambiguity and vagueness: Unclear or ambiguous contracts can lead to confusion and disagreements.
• Incomplete or inaccurate information: Contracts that lack essential details or contain inaccurate information can cause legal complications.
• Noncompliance with legal requirements: Contracts that do not adhere to legal requirements may not be legally enforceable.
• Failure to consider the business context: Contracts that do not consider the specific needs and goals of the client may not be effective.
• Overreliance on templates or precedents: Contracts that solely rely on templates or precedents may not be tailored to the unique circumstances of the business.

Protect Yourself and Your Business with the Law Office of Martha M. Dwyer

With over 35 years of experience, hundreds of successful business deals, and a proven track record, The Law Office of Martha M. Dwyer, based in New York City, provides comprehensive legal services across the United States.

From mergers and acquisitions to financing and restructuring, she is dedicated to achieving the best results tailored to your unique goals. Highly respected by peers and clients alike, trust Martha’s expertise in securing your business transactions.

*Prior results do not guarantee a similar outcome