5 Reasons Why a Law Firm Should Review Your Legal Documents

As a business owner, you may sign off on documents and contracts that haven’t been reviewed by a lawyer. These documents may include those such as commercial space leases, sales contracts and employment contracts. 

Not having these documents reviewed could cause trouble for you in the future. Any legal document with the potential to impact your business financially should be reviewed and someone with a litigation background can help you to avoid any pitfalls.

At Net Lawman, you can download a legal document template, edit it and then have the in-house legal team review it for you before it is printed and signed. 

1. Get a different perspective

When you own a business, you tend to see any documents through a business lens of marketing, competition and profit. What may seem straightforward may mean you’re missing some legal risks and issues. 

Lawyers usually review documents for clients on a daily basis and can immediately understand the legal implications without being distracted by competing business pressures. 

They are experienced at recognising any clauses that are potentially problematic and knowing when any specific terms or conditions need to be modified, included or excluded. A document review can also provide you with advice about the current practices and customs in your industry relating to contracts. 

2. Mitigate business risks

Just putting an agreement in writing doesn’t mean there won’t be any disputes. If you review your own documents and contracts and you make a mistake, it could end up being a very costly one. Lawyers will do everything they can to avoid making any mistakes as they know they could be sued if they slip up. 

You may be very good at running your business but you’re most likely not an expert on contracts and agreements. Hiring someone with experience in this field can avoid mistakes being made that could put your business at risk. 

3. Save money in the long run 

The cost of not having an attorney review some documents could put you out of business. In comparison, the cost of having a law firm review your documents is negligible. Many small businesses worry about the cost of having documents reviewed but once the summon is served, it’s too late. The problem has already occurred, and it’s a question of how much you will have to pay to solve it. 

Even if your situation changes and you have to make changes to a document, having it reviewed again to make sure your interests are protected is still less costly than leaving your business vulnerable. 

4. Understand what you’re signing

Contracts are often full of legal jargon that can be difficult for a layman to understand. Skimming over any legal language could mean you agree to something that could jeopardise your business in the future. 

Any contract’s terms should be not only very specific to your business needs but also as fair and as clear as possible. Having the contract reviewed by a lawyer can help to ensure this. When you sign, you know exactly what you’re signing. 

 5. Level the playing field

If parties approach your business with contracts drawn up by their attorneys, they are likely to be drafted with their interests in mind. Any agreement should protect the interests of both parties equally. 

Having the professionals take a look at these contracts would be in your best interests to make sure your business is protected. For example, an attorney can help you to avoid entering into an unfavourable agreement with an independent contractor while keeping it legal. 

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