The importance and value of well-crafted business contracts for any San Diego or Southern California business or corporation cannot be overstated. Your business contracts should guide all of your company’s relationships and transactions through potential challenges to a successful outcome, while reducing or eliminating the likelihood of litigation.
Well-Crafted Contracts are the Foundation of All Successful Business Transactions
A well-crafted business contract is the foundation of all business transactions. However, it is surprising how many contracts used by San Diego small and mid-sized businesses were downloaded from a forms site and modified to save a few dollars. Many substantial transactions and business relationships are governed by contracts that were prepared by well-meaning business people who try to avoid the small expenditure of working with a trusted legal partner like the Watkins Firm to craft solid business contracts while opening themselves to significant risk and liability.
When a dispute arises between business parties or an employer and employee, or a breach of contract occurs during a business transaction the first place to look is the underlying business contract.
Effective business contracts clearly define the role and responsibilities of the parties, contract deliverables, time frames, and potential obstacles that might arise. They prescribe a remedy for resolving disagreements, while providing a roadmap to successfully guide the transaction from beginning to completion. This is both the importance and value of well-crafted business contracts.
The Risk and Cost of Poorly Constructed Business Contracts
What is the risk and cost of poorly constructed business contracts? Downloaded contracts and/or contracts from a previous business experience that one simply modifies for the present in an effort to save money contain vague terms and are missing critical clauses and structure. The cost to litigate disagreements that arise out of a poorly written contract are exponentially higher, as a Court or other arbiter must piece together the intent of the agreement and the resulting obligations of each party. It may also interest you to know that if there is any area which is unclear or improperly structured the Court or arbitrator will give the benefit of the doubt to the party who did not provide the contract.
How Important Are Your Business Transactions? What is the Value of the Transaction They Support?
How important are your business transactions? What is the value of the transaction these contracts support?
The experienced business attorneys at the Watkins Firm would save you from this experience and prevent substantial expenditures to litigate or resolve disagreements that could have been prevented for a few hundred dollars.
It is important to note that the Watkins Firm does not need to create contracts from scratch. We have a substantial proprietary library of proven, successful contracts that are battle tested that has been developed over our more than 40 years of service to the San Diego and Southern California business community. Our library is constantly updated based upon changes to federal, state and local laws, ordinances and regulations.
This allows the Watkins Firm to cost-effectively tailor an existing, proven business contract to the specific needs of our client. When we craft a business contract for a client, they are able to use it over and over again confident in the knowledge that it is well crafted and legally sound.
Working from a downloaded form or self-modified contract not only risks successful business transactions but greatly increases the odds that a costly dispute will arise.
Learn more about the importance and value of well-crafted business contracts and how the Watkins Firm can cost-effectively tailor proven contracts to meet your unique requirements. Let’s open a conversation about your business contracts and the transactions you wish to complete successfully and profitably. We invite you to review our Recent Podcast Episode 15 – Contract Law as well as the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.
