Do you really need a lawyer to review contracts? After all, you’re a smart person and can read it yourself, right? Why spend the money to have an attorney double-check it to make sure everything is aligned?
The short answer is this: by hiring a lawyer, you spend a small amount of money now to prevent losing a lot of money later. Here are a few reasons why you should have a lawyer review business contracts.
Lawyer Contract Review Reason #1: Avoid Pitfalls
The main reason to have an attorney look at your documents is to help you avoid potential pitfalls later on. For example, an attorney can identify if there is unclear language in the document which could lead to an issue later. A business contract is no place for gray areas.
You want a contract to be very clear. Any kind of ambiguity opens a door for issues to walkthrough later on. But what seems clear to you or the other party may not necessarily be clear in the legal world. That’s why you need a set of eyes looking for these types of litigation gray areas.
Lawyer Contract Review Reason #2: You Aren’t an Expert
You’re an expert in your field. That’s why other people or companies pay for your products and services. They trust in your skills and knowledge, which is how you’re able to produce something valuable enough to sell.
Are you an expert in contracts? No. Just because you’ve signed contracts in the past doesn’t make you an expert. It does give you an idea of what to look for, but it doesn’t mean you can rely completely on yourself in this matter.
This is different than trying to do a basic maintenance task around your house, or learning how to use a new piece of software. Those things don’t have the potential to cause massive damage to your company and reputation.
Contract lawyers, on the other hand, are experts. Let them do what they do best so you can do what you do best.
Lawyer Contract Review Reason #3: Fight Fire with Fire
Contracts are usually a bit one-sided when they are first drafted. Whoever creates the first draft has their (or their client’s) interests in mind. That’s fair and makes sense, but it doesn’t mean you can’t do something about it.
Hiring a contract attorney to review the document helps you balance the document so both sides win. The lawyer will be able to identify things that seem out of place and can recommend a change. They may also come up with ideas on what to add so the document is more reflective of your interests.
Can you try to do these things without help? Sure. However, a fresh set of eyes from your attorney can make all the difference. It’s the same reason why authors hire editors, companies hire 3rd parties to perform market research, etc.
So do you really need a lawyer to review business contracts? Yes – we protect your interests and help you avoid major problems down the road.
Do you have a document you need to be reviewed? We’re here for you, click here to contact Von Esch Law today.