The short answer is, yes, they can. Business contracts can have real power in helping companies and their owners avoid disputes and conflicts. How? It is all in the details. After all, a business contract is more than a mere agreement.
Your contracts help build the framework around which your business relationships develop. A well-written contract includes terms and provisions that protect your reputation and bottom line.
A straightforward approach typically wins the day
Study your business contracts from an objective viewpoint. Do they contain long paragraphs and endless legal terminology? Is it a chore to read them? Do you find yourself having to reread portions more than once? Is it possible that others might have trouble comprehending their contents?
If you answered yes to the above questions, your business contracts could probably benefit from a minimalist makeover. Ensuring your documents are as simple as possible can leave little room for misunderstandings, a common cause of Georgia business disputes. At the same time, you must make sure that your simplified terms continue to protect you should a dispute arise.
Start with these 5 tips
Legal guidance is always wise when entering into a contract associated with your business. However, you can build the basic bones of these contracts yourself. When you have finished, consider having an advocate review them for errors or vague provisions. In the meantime, these five tips can help you begin strengthening your contracts.
- Avoid including commonly confused terms, words or phrases
- Include the date in the first paragraph for ease of reference
- Make sure they include the word “contract” at the top
- Number the paragraphs for ease of reference
- Clearly define legal and technical terms
You also want to practice caution when signing contracts presented by your business associates, as they could also contain ambiguous or misleading terms. Learning more about Georgia business disputes and contract law can also increase your protection.