It may shock you to learn your business is only as good as its contracts. Successful and profitable business transactions are the essence of business. Contracts are the foundation of all business transactions. This includes transactions between businesses, between your company and its suppliers or customers, between employer and employee, between your business and those who license or distribute your products.
After more than 40 years of business I can tell you the outcome of any business transaction is fundamentally tied to the underlying contract which guides it.
What is the Role of an Effective Business Contract?
Effective business contracts are one of the most important ingredients in a San Diego business. Your business is only as good as its contracts. Ensuring that your business has the most comprehensive and effective business contracts protects your company while ensuring maximum opportunity for success and profitability.
Effective business contracts establish a clear, well documented path that guides each party through the transaction from beginning to successful completion. The contract should anticipate anything which might arise along the way or dispute which may develop and provide specific instructions for how these are to be managed and resolved.
The role and responsibilities of each party must be clearly established to avoid confusion or a business dispute down the road. The contract should detail specific deliverables and timeframes, the “benefit of the bargain” anticipated by each party. An effective business contract is a road map which guides the party through the transaction and any bumps which might occur to a successful and profitable conclusion.
The Benefit of the Doubt Goes Against the Provider of the Contract
Unfortunately, too many business professionals try to simply tailor a contract from a previous work experience or download a form contract from a website. “I’ll just fix this myself and save a lot of money.” First, it doesn’t save you that much money and second, if a dispute arises any ambiguities in the contract, any area of the agreement which isn’t crystal clear, any poorly constructed or illegal content goes against the provider of the contract. The judge will give the benefit of the doubt for any gaps or unclear terms to the other party and you’ve just lost a substantial dispute, not to mention a lot of money.
We Start with a Proprietary Library of Proven, Successful Contracts
We very rarely (if ever) have to develop contracts from scratch. The Watkins Firm has developed a proprietary library of proven, successful contracts over our more than 40 years of service to the San Diego and Southern California business and healthcare communities. Our library is kept up-to-date with all changes in federal, state and local laws, regulations and ordinances.
We simply tailor an existing proven, successful contract to your unique needs and application. This saves time and substantial cost while lowering inherent risks. Your Watkins Firm business contract attorney will anticipate potential areas of challenge and the issues that might arise during your transaction(s) and ensure the contract clearly identifies how these obstacles will be avoided, and what will happen in the event that the contract is breached.
The attorneys at the Watkins Firm have advised San Diego business owners for more than four decades and have deep experience and legal skill crafting the effective business contracts that help to ensure successful business transactions.
Downloaded forms, or modifying contracts one has found online will never provide the type of protection your company deserves. Here in California, the benefit of the doubt will always go against the party which created the contract itself. This is why you should never bet your business and your hard-earned money on a boilerplate downloaded form.
In these cases, these poorly crafted documents create more opportunity for dispute that can only be resolved through extensive and expensive business litigation.
Your Business is Only as Good as its Contracts – The Watkins Firm is Good Business
Your business is only as good as its contracts and the quality of these agreements will determine the scope of your success or the challenges you may have to face. Avoid these hassles and learn how the Watkins Firm is a cost-effective business partner who provides sound counsel and solid legal services. We not only provide carefully crafted and tailored contracts from our proprietary library of successful, proven contracts, we provide sound business advice and counsel to help you understand all the risks, options and opportunities in order to structure successful and profitable business transactions.
Business contracts are one of the essential foundation of your business transactions. When was the last time you took a serious look at your business contracts? Ensure smooth relationships with suppliers, customers and employees alike through well constructed effective business contracts. We invite you to review our podcast Episode 15 – Contract Law, the strong recommendations of our clients and contact the Watkins Firm or call 858-535-1511 for a complimentary consultation today.
