Protecting Your Small Business with Contract Legal Advice
Updated: Oct 26, 2022
Any new or established small business should take measures to protect its interest when dealing with customers and other businesses to avoid costly disputes which may arise in the future.
When signing or distributing contracts, it’s critical to ensure that the terms are fair, and to establish a balance between the rights and obligations of both parties. If these steps are not taken, a contract may end up being detrimental to your business.
Establishing a suite of business contracts
New and existing businesses require a set of ready-made contracts that they can use when entering upon new agreements with clients, subcontractors, and other parties.
When operating at scale, it is not practicable to develop a unique contract for every instance; for example, for every customer with whom you transact. This is one reason why it may be helpful to have pre-prepared terms and conditions, sale of goods and service contracts to deploy as needed.
Of course, if an error or risk is inherent in the contract as it stands, this risk is multiplied in every instance where the contract is put into use and signed. Therefore, it is vital that this contract is developed and assessed by a qualified legal expert – otherwise risk may compound.
Occasionally a business partnership or agreement may be more unique, and represent an ongoing engagement between parties. In an instance like this, you may require a bespoke contract that considers the unique circumstances surrounding both parties.
Given it may be crucial to the success of the relationship, a quality contract is essential before each party come to an agreement. The obvious benefit of a quality contract is that it provides you with something to fall back on and hold people to account, in the case of a disagreement; and also specifies the actions that are acceptable for you to take, giving you the freedom to act in your personal and professional interests within the contract terms.
The less obvious, but perhaps even more major benefit in some instances, is the way in which a strong contract developed by a contract law legal expert can deter actions that disadvantage your business and do establish a clear understanding between two parties – which is essential if they are to work together effectively.
Legal support during a contract dispute
A dispute may arise even with a sound contract, partly because the dispute may not centre on the terms of the contract, but rather, on the actions of the parties involved. However, by establishing a strong contract in the first place, a business gives itself legal backing, and has already taken the steps to improve the likely outcome of the dispute. With a solid contract behind you, the focus can become on contract compliance – not whether the contract is sound.
In the instance of a contract dispute, Arida Lawyers can analyse the cause of dispute, the contract in question, and provide advice on legal strategy, information on the likelihood of success, and the commercial viability of the dispute. Should the matter be litigated, Arida Lawyers can also represent you during legal proceedings.
Seeking legal advice on contract law
For more information on the legal services that we provide or to arrange a free initial consultation, contact Arida Lawyers on 1300 146 390 or email@example.com.
This article provides general information relevant to our expert services. It is not legal advice and should not be relied upon as such. If you are seeking legal advice, you should contact us for a free initial consultation.
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