{"id":2770,"date":"2022-03-30T00:32:59","date_gmt":"2022-03-29T23:32:59","guid":{"rendered":"https:\/\/uk.legalvision.com.au\/?p=2770"},"modified":"2023-11-12T22:08:10","modified_gmt":"2023-11-12T22:08:10","slug":"lawyer-company-contracts","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/commercial-contracts\/lawyer-company-contracts\/","title":{"rendered":"Benefits of Working With a Lawyer to Review Your Company Contract in England and Wales"},"content":{"rendered":"

The signing of commercial contracts is the bread and butter of business life.\u00a0 Your business is likely to enter into multiple agreements with various companies, whether for sale, purchase or supply each year.\u00a0 Because of this, you will want the process to be smooth and it may be beneficial to have a lawyer assist with your business contracts and legal documents. This article will explain the benefits of working with a lawyer to review your company contract on England and Wales.\u00a0<\/span>Keep in mind that in this article, we will treat the phrase \u2018company contract\u2019 as a contract between your business and another company, rather than other documents (like employment contracts).\u00a0<\/span><\/p>\n

Do I Have to Have a Lawyer to Review and Negotiate My Company Contracts?<\/span><\/h2>\n

The short answer is \u2018no\u2019.\u00a0<\/span>The long answer is \u2018no, but it is a good idea to have a lawyer involved at some point to ensure your business is not being ripped off\u2019.<\/span><\/p>\n

A common way to phrase the difference between a business owner acting alone against being represented by a lawyer is the \u2018football example\u2019.\u00a0 The manager of a football team is akin to a business owner.\u00a0 They know the club’s aims and what they need to try and achieve in the next few weeks and months.\u00a0 This will involve scoring goals.\u00a0 The manager will be able to eloquently describe how goals are scored and how many he wants but, aside from the odd (rare) player-manager, will not be best advised to pop onto the pitch and attempt to score himself.\u00a0\u00a0<\/span><\/p>\n

Instead, the manager is likely to purchase the services of a striker.\u00a0 The striker has extensive experience converting the manager\u2019s tactics into putting the ball into the net and achieving results.\u00a0 This will be because they do it week in and week out under (over time) different clubs and different managers.\u00a0 This is the lawyer.\u00a0 The advice, negotiation and drafting required with company contracts will be second nature.<\/span><\/p>\n

Why Is the Advice of a Lawyer So Important?<\/span><\/h2>\n

A lawyer can be helpful just by confirming which clauses in a draft contract are normal and which are not.\u00a0 This knowledge alone can avoid your business entering into an unfair, misbalanced agreement.<\/span><\/p>\n

Whether your lawyer drafts a contract for your approval (to send to the other party) or simply reviews a contract received from another company, they will quickly give you a view of how \u2018reasonable\u2019 and \u2018balanced\u2019 it is.\u00a0<\/span><\/p>\n

Most company contracts contain complex clauses, many of which include a fair amount of so-called \u2018legalise\u2019.\u00a0 A lawyer will be able to drill down into what the clauses mean for your business in practice and whether any of those could legitimately pose a financial or legal risk to your business down the line.<\/span><\/p>\n

Put generally, the starting point for any lawyer is to ensure that legal agreements and new contracts are agreed upon in a way that protects the best interests of your business. This includes reviewing notice periods, payment terms and other obligations placed upon your business with any company contract.<\/span><\/p>\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\n

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