You may not be required by law to hire an attorney, but hiring one may just give you peace of mind, protect your business and save more money in the long run. A commercial contracts lawyer is actually your legal safety net that will make sure every deal your business makes is fair, enforceable, and favourable.
Reasons for Hiring a Commercial Contracts Lawyer
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Spots Hidden Risks
When you hire a lawyer, you can rest assured that they can identify vague clauses, unfair penalties, or obligations that may expose you to future legal or financial trouble.
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Customises the Contract for You
Note that templates or DIY contracts can often miss the important protections. The lawyer that you hire tailors the agreement to your exact business needs and goals.
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Saves you from Costly Mistakes
It is possible that legal disputes will arise from poorly written contracts. That said, it can be an expensive and time-consuming process. The lawyer will prevent that before it happens.
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Helps You Negotiate Better Terms
You can avoid being able to agree to terms that will favour the other party if you don’t have familiarity with commercial legal language.
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Ensures Your Business Is Compliant
It is important to understand that Australian business laws change regularly. The lawyer will ensure that your contract will comply with current regulations.
What They Can Contribute to the Business
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Drafting of the Contract
It will be their job to write clear, enforceable agreements for things including
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Service contracts
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Employment contracts
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Supplier and vendor agreements
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Partnership and shareholder agreements
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Franchise or licensing agreements
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Conducting the Contract Review
They will check the existing contracts if there are risks, unfair terms, or legal gaps before you are able to sign the documents. This will ensure that your obligations are reasonable and legally compliant.
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Negotiating for Terms Indicated
You will have representation in the negotiation of better terms and other parties. They can also balance risks and ensure mutual understanding.
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Advise on Legal Compliance
They will ensure that your contracts will follow the commercial laws and industry standards of Australia.
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Handling of Disputes
Lawyers can provide legal advice or action if a contract is breached or if a disagreement arises. They can assist with mediation, settlement, or litigation if necessary.
You simply can’t afford to leave your business exposed to risks. At Velocity Legal, you can work with our commercial contracts lawyers. Give us a call today or leave an email if you are convinced your business needs a boost from a legal counsel.