Contract Negotiations And Agreements
Contract negotiation is the process of give and take that parties go through to reach an agreement. Contract negotiation is an integral aspect of beginning a new business relationship. There are many factors to consider in the initial contract negotiation phase, such as: whose contract should be used, what is the nature of the relationship between the parties, what are the obligations between parties, and what is the payment structure between parties.
Options And Advice From Attorneys Who Know What It Takes To Run A Successful Business
Contract negotiations have two distinct stages: negotiating the business terms between the two parties, followed by negotiating the legal terms. Negotiating the legal terms is where we come in.
We have extensive experience negotiating contracts in the internet marketing/affiliate marketing space. As a somewhat new space, much verbiage used on business’s MSA (Master Service Agreement) or T&C (Terms and Conditions) lacks any standard uniformity. This lack of uniformity leads to companies often adopting contracts that they don’t necessarily understand the full implications of what they’re asking of the other party or the other party’s obligations to them in an instance of grievance.
This contractual ambiguity can result in significant losses or damages when unwittingly agreed to. Before signing another company’s contract, it behooves you to have the contract reviewed by a qualified, competent lawyer to outlay exactly your obligations to that party and how damages are remedied.
From a business perspective, one erroneously agreed to obligation to the other party could put you at risk of potentially thousands of dollars of damages. The need to limit liability in case of catastrophic loss in the instance of an affiliated company doing something unlawful is paramount. A prudent business owner should work with professionals to understand what the contract they are signing states and propose redlines that would make the contract more amenable.
A statement from one of the clients we have done extensive contract negotiation for this year, “Working with Williams & Coleman, P.A., has been a godsend for our business. We were previously reviewing contracts ourselves or blindly agreeing to other companies’ terms without fully understanding what we were signing. We put ourselves in legal jeopardy by not having contracts reviewed and redlined. I highly recommend Williams & Coleman, P.A., to anyone looking to maximize their business legal protection. – Camren Majors”