Grand Rapids Business Contracts/Commercial Agreements Attorneys
When your company enters a new business arrangement or needs to renew an existing commercial relationship, a written commercial agreement can help define your respective rights and obligations and minimize the risk of costly legal disputes or litigation. Negotiating a business contract can involve complex legal issues, making it critical for your business to have experienced legal guidance to help you determine your goals, draft appropriate contract provisions, review proposed agreements to ensure their compatibility with your interests, and negotiate with counterparties to reach a fair and favorable deal.
Don’t put your business at risk of a poorly drafted contract. Contact SBS Law PLC for a case review with a Michigan business law attorney to learn more about how our firm can support your business as you draft or negotiate a commercial agreement.
Understanding the Importance of Business Contracts
Written agreements help facilitate commercial relationships by defining the parties’ rights and responsibilities. Without business contracts, parties could end up with differing recollections of what terms they agreed to, or they may have misunderstandings over whether they agreed to the same thing. By having a written contract, parties can put the terms of their relationship on paper to refer to should disagreements or disputes arise.
However, a business contract may have minimal benefit when it contains vague, ambiguous, or sparse language that leaves considerable room for interpretation of the parties’ rights and obligations. As a result, having a clear and comprehensive commercial agreement becomes critical to the success of a business relationship or to resolving disputes as efficiently as possible.
Types of Commercial Agreements We Can Help Your Business With
Businesses may enter into contractual agreements to govern various commercial relationships. At SBS Law PLC, our legal team can help your company negotiate, draft, and review various kinds of commercial agreements, such as:
- Independent contractor agreements
- Franchise agreements
- IP licensing agreements
- Commercial real estate purchase agreements
- Commercial leases
- Supply/vendor agreements
- Distribution agreements
- Master services agreements
- Client/customer purchase contracts
- Confidentiality/non-disclosure agreements
- Financing/loan agreements
- Non-solicitation agreements
- Non-compete agreements
Critical Considerations in Business Contracts
When negotiating a business contract, your company should focus on several key terms that most significantly affect your rights and responsibilities under the agreement. Understanding how a contract addresses these terms will help you evaluate whether a proposed contract reasonably serves your interests. Some of the key aspects that your business should focus on when negotiating a commercial agreement or reviewing a proposed agreement include:
- Payment Terms – Commercial agreements must define the consideration paid for the goods or services exchanged by the contract and the terms or conditions under which a party must make payment. Spelling out when and how much parties must pay can prevent disputes in long-term business relationships.
- Scope of Goods or Services – A business contract should clearly define the goods or services exchanged in the commercial relationship. Setting clear guidelines for what constitutes performance of the agreement for the party responsible for delivering goods or services can help avoid disputes over whether performance has occurred and give a buyer a stronger basis to determine whether the other party has breached the contract.
- Renewal and Termination – Some business relationships may go through renewals of contractual agreements. When renewal of a contract becomes a possibility, parties should make sure the contract addresses the renewal process, such as automatic renewal, conditional renewal, or required renegotiation. A business contract can also define the conditions under which a party may prematurely terminate the agreement and the process for termination (i.e., notice period, termination fees, etc.).
- Warranties/Indemnification – In a business contract, a seller may give warranties for the products or services they provide. Agreements may also have the parties agree to indemnify one another for specific losses arising from the contractual relationship. Parties should carefully negotiate these terms to ensure they have the legal rights they need and want in case of an issue.
- Dispute Resolution – Many commercial agreements contain mandatory dispute resolution clauses that require parties to submit their disputes to settlement negotiations, mediation, or arbitration. Dispute resolution clauses can help parties resolve issues or conflicts that arise without having to endure the time, expense, or publicity of court litigation.
- Governing Law and Choice of Forum – Contracts may also specify which jurisdiction’s laws govern the agreement and the parties’ relationship or which courts or arbitral forum can hear any dispute that arises between the parties. Choice of law and forum clauses can become important in contracts between parties located in different parts of the country or the world.
How an Attorney Can Help With Negotiating and Structuring a Commercial Agreement
Negotiating a business deal can become a stressful process, especially when an agreement involves complex legal issues or you seem to reach an impasse with your counterparty. A seasoned lawyer from SBS Law PLC can help your business negotiate and draft a commercial agreement that will best promote a productive, dispute-free business relationship with a supplier, contractor, vendor, or customer by:
- Sitting down with you to discuss your concerns, needs, and objectives for the business relationship to determine your priorities for contract negotiations
- Reviewing proposed agreements to determine whether they align with your goals and adequately protect your rights and interests
- Thoroughly explaining your company’s rights and options to ensure that you can make informed decisions throughout the contract negotiations process
- Drafting agreements to ensure they fulfill your objectives and comply with applicable laws and regulations
- Leveraging negotiation experience to advance a proposed commercial agreement toward a fair and favorable outcome for you
Why Choose SBS Law PLC?
Negotiating an explicit, comprehensive agreement can best protect your interests and mitigate the possibility of legal disputes arising from your commercial relationship. Having experienced legal representation can help ensure you have a business contract tailored to your company’s needs, concerns, and objectives. Choose a business law attorney from SBS Law PLC to assist you with negotiating and structuring a commercial agreement because:
- We Handle Your Case from the Start – Our lawyers take a responsible, attentive, caring approach to handling your contract negotiation and review while keeping a sense of urgency to resolve your matter efficiently and correctly.
- We Combine Small Firm Service with Big Firm Results – We offer the benefits of the personalized attention that a small firm can provide, combined with the knowledge, skills, and resources traditionally found in bigger law firms.
- We Take a Professional Approach – We focus on creating an atmosphere of seriousness, compassion, and helpfulness, treating every client who walks through our doors with the dignity and respect they deserve.
- We Bring Trusted Experience – Our legal team has considerable knowledge and experience across numerous areas of the law, enabling us to handle a wide range of business contracts and commercial agreements.
- We Provide a Thorough Case Review – We take the time to understand your case in-depth, including discussing your needs, concerns, and goals with you to ensure we pursue the results you want.
Contact Our Firm Today for Support
Experienced legal counsel can help you create a business contract or commercial agreement that minimizes the risk of conflict or other legal complications that could harm your business. Contact SBS Law PLC today for an initial consultation with our legal team to discuss your proposed contractual relationship and learn how we can help you negotiate and form an agreement that best protects your rights and interests.
