No business can exist without contracts. Contracts provide structure to every transaction. From everyday interactions with customers and vendors to defining relationships between business partners, contracts are critical. But how many of us actually read the contracts we are signing? As a lawyer, a great deal of my clients come to me to resolve issues relating to contracts that were signed, but not read. Most admit that had they known what was in the contract before they signed it, they never would have signed it.
So why do so many very bright business owners refuse to read their contracts? Because its hard. Contracts are written in “Legaleeze”. No one has the time to read every word, and even if they did, who would understand what they just read? This is where attorneys earn their money. Paying an attorney to review contract language is like paying for insurance. Paying an attorney for an hour of his or her time to make sure you are covered is a very inexpensive way to keep you out of trouble.
The language in a contract may seem to be very fair and reasonable, but because you are not knowledgeable in the law what you believe to be true is really nothing more than a guess. You shouldn’t risk your business on a guess. Successful business owners surround themselves with smart people that advise them on a variety of matters. At the top of that list is the lawyer. Remember, every business transaction has a legal fee. If you chose to involve the attorneys early, costs are very affordable. If you get them involved later, after a problem arises, legal fees are almost always substantial. The good news, the attorneys at Kalicki Collier are always here to help you.
This is attorney Jamie Kalicki of the law firm Kalicki Collier where our attorneys collaborate and innovate to help you succeed.