This is the final post in a series of articles discussing contract negotiation, drafting and review in Olympia or Tacoma, Washington. Throughout this series, we have provided information about the commercial contracting process. One of our goals has been to explain the importance of a well-written and thoroughly negotiated agreement to protect a business’s interests. Another goal of this series has been to explain the role of an experienced contract attorney in drafting, reviewing and negotiating contracts on your company’s behalf. If you need assistance with a commercial contract, contact our office today to speak with a lawyer.
We have discussed several important subjects in this series, including:
- The importance of written contracts
- Negotiating contract provisions that protect the parties
- The importance of counsel in contract drafting and negotiation
- How to handle a breach of contract
Before entering into a contract, business people should have a basic understanding of these important points. This is not the same as “before signing a contract.” A “handshake deal” is a contract, and it is often a bad one. Unlike a “handshake deal,” a written contract that is clear and unambiguous as to the parties respective obligations can make the deal clear and avoid disputes and misunderstandings. Second, a contract can contain provisions that distribute risks and liabilities amongst the parties. These may include insurance, indemnification or dispute resolution clauses to protect the company’s involved from the inherent risks to the transaction. However, a “handshake deal” is unlikely to include these in any enforceable way. Consulting with an attorney during the contracting process can help ensure that an agreement accurately reflects the terms of a business transaction as the parties intend. A contract lawyer will also be aware of the applicable legal requirements that may impact the contract’s enforceability. Finally, a party should also be aware of how to react if a breach of contract should occur, and a written contract can make that clear.
A business attorney can review and negotiate written contracts that accomplish your business objectives. If you need assistance, contact us today to speak with an Olympia corporate lawyer. The firm also services the Thurston County cities of Lacey, Tumwater, and Yelm, the Pierce County cities of Tacoma, Puyallup, and Lakewood, the Lewis County cities of Centralia, and Chehalis, the King County cities of Seattle, Auburn, Bellevue, Burien, and Federal Way, as well as other areas in Washington, including Grays Harbor, Mason, Cowlitz, and Pacific Counties.