Contracts are, in a word, expensive.
You have to pay a lawyer to help you draft them, especially for more complex deals. Also, you have to dedicate the time and attention of your employees, customers, vendors, and other parties in negotiating, marking priorities, and dedicating internal resources to their performance.
Because of this investment, each contract you enter into should be practical and understandable. It should be an everyday document that your business can depend upon to guide its performance. And, it should be a fit for the particular needs of your business.
A contract that fails to meet these objectives is not just a waste of time and money—it’s also more likely to be neglected by your business. This raises the risk of soured customer and vendor relationships, non-performance, and, possibly, litigation.
The bottom line: contracts have to work as hard as you do. They need to earn their keep.
For these reasons, your contracts:
- Should use simple, straightforward, everyday language;
- Should be mindful of the needs of internal and external stakeholders;
- Should be adapted not only to the deal but also the realities of your business and its position in the marketplace;
- Should never be signed with hanging blank spaces, placeholder text, or ambiguous language (including in boilerplate provisions); and
- Should avoid being generic documents pulled off the internet or recycled from a prior deal without considering whether that deal is a decent fit for your current deal.
Businesses and their executive teams should expect contract language that fairly mirrors the mission, is practical, and gets the job done well and efficiently. The team at Baker Jenner LLLP is focused on drafting contracts that meet and carry forward your company’s goals and objectives. Call us at (404) 400-5955 for professional, precise counsel for your dynamic business.
Baker Jenner LLLP
