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Drafting or Reviewing Business Contracts

Contracts are everywhere around us.  From cell phone contracts, to gym memberships, to mortgage agreements, contracts are integrated into our daily lives.  One may not even be able to live in a highly developed country, especially in an urban area, without entering into one or more contracts.  Try doing business on the internet, or even just “surfing the web”, without entering into a contract!

Consumers typically think of the different types of agreements mentioned above.  On the other side of those arrangements, though, are businesses.  Some are large businesses, others medium-sized, and the rest small.

Irrespective of the size of company, contracts are essential.  Whether it is a single-person residential painting company, a regional technology firm, or a multi-billion dollar enterprise such as Walmart or Berkshire Hathaway, no organization can escape the need of having well-prepared documents.  Here is a list of relatively common business contracts utilized across many different industries:

  1. Statements of work
  2. Master services agreements
  3. Indemnity agreements
  4. Promissory notes
  5. Release agreements
  6. Bills of sale
  7. Sales contracts
  8. Memorandums of understanding (MOU)
  9. Letters of intent
  10. Engagement letters
  11. Term sheets
  12. Cost-plus contracts
  13. Services agreements
  14. Product sales agreements
  15. Joint venture agreements
  16. Loan agreements
  17. Asset purchase agreements
  18. Stock purchase agreements
  19. Consulting agreements
  20. Vendor contracts
  21. Pledge agreements
  22. Termination agreements
  23. Personal guaranty agreements
  24. Terms and conditions
  25. Referral fee agreements
  26. Sales contracts
  27. Arbitration agreements
  28. Mediation agreements
  29. Joint marketing agreements
  30. Vehicle purchase/sale agreement
  31. Client contracts
  32. Customer contracts
  33. Settlement agreements
  34. Agency agreements

It may be hard to believe, but this list is a small fraction of the number of different business contracts out there!  Not all companies need dozens of different agreements for their ordinary operations.  Some smaller companies function perfectly fine using just a handful, or even less.

A well-written contract may be among a given company’s most valuable assets.  Yes, you read that correctly.  A contract can be an immensely valuable asset.  It can provide legal protection (and peace of mind), clarify the roles and responsibilities of the parties, outline expectations, and serve as a reliable record of what the parties intend to accomplish.  The value of a contract can last many years after it was prepared or signed.

A generic form—in contrast to a tailor-made contract—may not be worth the paper it was printed on.  It may contain inapplicable terms, ambiguous language, illegal covenants, waivers, or fees, or be unenforceable.  It may not take state law or other local law into account.  It may have spelling or grammatical errors, poor formatting, or poor organization.  Generic forms may send the wrong message to prospective customers or clients, such as not paying attention to detail or not caring enough to invest in developing a quality company document.

This law firm has substantial experience drafting, reviewing, revising, and negotiating business contracts.  We have worked with companies across a broad range of industries, including construction (and some of its subsidiary fields like HVAC, roofing, and equipment rentals), hair care, automotive, technology, finance and banking, travel, food and vending, health and fitness, household goods, general retail, social media, and entertainment.  We welcome the opportunity to work with others!  Depending on the wants and needs of our clients, we can draft contracts from scratch or take pre-existing documents and revise them by modifying, adding, and/or deleting certain language.  We can also review proposed contracts for a business’ signature or negotiate with a legal representative of another party to the proposed contract.

If you would like to make an appointment with Kincaid Business & Entrepreneurial Law, LLC ® regarding a business law matter, namely, drafting or reviewing business contracts, please feel free to conveniently schedule with us here.  You may also wish to read more about implied contract terms in Kansas, fundamental contract principles in Kansas, or interpreting written contracts in Kansas on our blog.