The bedrock of business operations is itself based on a contract: the operating agreement for a limited liability company and the bylaws for a corporation. In essence, your business is only as strong as the contracts and transactions from which it bases its day-to-day affairs and activities on. Limiting liability, avoiding disputes and ensuring compliance are fundamental to a proper business and working relationship with consumers and third-parties. Moreover, business contracts are necessary for the internal functioning of the business.
Thus, well-drafted contracts help guard against internal and external threats to the business. This does not mean that a good contract will forever bar future disputes against your business. However, should such a problem arise, whether from an employee (internal) or consumer (external), a contract that plays well with the law will fare far better than an unconscionable one.
It is important to avoid oral contracts, verbal agreements and “handshake” type deals where nothing is put in writing. Of course, the latter would be fine if the merchant later memorializes what was talked about in writing and sends it over to the consumer to be signed. Other than that, all transactions, whether internal or external to the business, should be formally executed by means of a contract.
Business owners are very busy. From marketing to managing and everything in between, the president assumes many roles. Iacone Law, P.A. will alleviate this burden by providing you counsel for your contract drafting, negotiation and review. In addition, Iacone Law, P.A. will advise on the contracts of others, i.e. those that you receive, from reading the fine print, explaining its terms and negotiating its contents.