Whether you are starting a new business or have been operating for decades, sound agreements and valid contracts are an essential component to the continued growth and success of any business. From partnership agreements to lease agreements to purchase contracts, business owners need to know their contracts will protect their interests and accomplish the desired goals. All contracts should be drafted to minimize legal risk and exposure while allowing a business to pursue new ventures and partnerships in the most cost-effective manner.
Joint Ventures and Partnership Agreements
Many business owners take pride in understanding all aspects of their business and assume they will be the best representative to negotiate all the terms and contracts for a potential joint venture or new partnership. This might be the case, but an experienced attorney will be able to provide invaluable insight during contract review to make sure any joint venture or partnership is favorable and advantageous to the business. An attorney with experience in partnership disputes will also be able to provide insight into potential issues that might arise from the agreement. It is always tempting to look at all the reasons to form a new joint venture or partnership without adequately considering the risks and downsides.
Business owners are always looking for ways to expand their business in effective ways. This typically involves some form of financing. Whether they are taking a loan or selling equity in the business, these financing contracts are typically complicated and favor the lender or investor. An experienced attorney can review these contracts to make sure all details, payment schedules, and penalties are clearly laid out. It is tempting to take the first solid financing option you find for a new business, but this can lead to numerous issues down the road and ultimately hinder your ability to grow effectively.
Real Estate Contracts in Arizona
Many business owners assume their commercial realtor will assist with all their lease or purchase contracts for real estate. However, you should absolutely enlist the expertise of an experienced real estate attorney when you are contracting for a building for any business use. An attorney is going to be able to make sure that the contract is fair and doesn’t place any unnecessary burdens on your business. Realtors are likely to use the standard contract forms provided by their broker or by the landlord. These contracts frequently have boilerplate terms that may not consider your individual or specific needs as a business and might not accurately reflect all the terms discussed during negotiations. Depending on where these forms originate from, terms can be highly preferential to only one party to the contract. It is especially important for business real estate contracts to provide flexibility in case your business grows beyond the current space or finds a space for operations.
Contracts to purchase or sell a business can be among the most complicated agreements your business will undertake. The success of these contracts and transactions is dependent upon an agreement being structured with all details clearly laid out. The entire transaction and all parties involved must be on the same page. Contracts of this nature should be drafted by an experienced attorney and all details of the negotiation should include the attorney that drafted the agreement. Many business owners will handle the initial negotiations for a potential purchase or sale of another business entity. However, an experienced attorney should be consulted and utilized at every stage of the process. A poorly-drafted buy-sell agreement can put your business at risk and leave important details of a major transaction to chance.
Contract Dispute Resolution
Business owners do not pursue contracts with the mindset they might potentially fail or run into issues. Most business owners have an optimistic view towards new deals and agreements. This is one of the most important reasons to consult with an attorney with experience in commercial contract review in Arizona. An experienced attorney will be able to help you prepare for legal risks of any contract and potential disputes that might arise from the agreement. Our firm has significant experience with the various forms of contract dispute resolution and can assist your business in finding the most cost-effective method for resolving any potential dispute.
The attorneys at MacQueen & Gottlieb can provide diligent commercial contract review for all your current agreements and will be able to draft and execute contracts for your business needs. Our firm has extensive experience with all types of common commercial contracts for businesses in Arizona. Contact us today at 602-533-2840 to schedule an initial consultation or make an appointment online.