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Should You Draft Your Own Contracts?

A contract is a business agreement that is in place to ensure that the legal rights of all involved parties remain protected. When contracts are not drafted precisely to suit the needs of the involved parties, potential risks can arise. Consequently, you should leave it to an experienced attorney to draft a precise contact that suits your business needs and safeguards all of your legal rights. 

For more information about business contracts, you should contact the experienced Ohio contract lawyers at Niekamp, Weisensell, Mutersbaugh & Mastrantonio, LLP, for a free legal consultation today.

Types of Business Contracts

The State of Ohio recognizes various types of business contracts. Some of the most common types of business contracts include:

  • Construction contracts – Construction contracts are put in place prior to beginning work on a construction project. Since some construction projects are large-scale and involve a significant amount of money, it is important that you have a lawyer review, draft, and/or negotiate a construction contract before you sign it. 
  • Contracts for real estate – Real estate contracts come into play when a business entity intends to buy or sell real estate. These contracts often involve real estate management, ownership, operation, and leasing, and may involve both commercial or residential real estate. 
  • Merger agreements – Mergers occur when two business entities merge together – or when one business acquires another business. Having a proper merger agreement in place under these circumstances can help both sides to avoid potential financial risks that could create problems down the road. 
  • Partnership agreements – When two or more individuals decide to partner with one another, a partnership agreement will spell out how the partnership will work between all of the individuals involved, how business profits will be shared, etc. Having a well-drafted partnership agreement in place can help to prevent future disputes that may arise. 
  • Non-disclosure agreements – Non-disclosure agreements are used to protect the intellectual property of a business and make sure that certain business information does not slip into the wrong hands and become public knowledge. 
  • Franchise agreements – Some businesses involve purchasing a franchise where business will be conducted. Many of these agreements contain large amounts of legal jargon, often called “legalese.” An experienced business attorney can be extremely helpful when it comes time to interpret one of these agreements and making sure that you fully understand everything contained in the agreement. 

Call an Experienced Ohio Contract Lawyer Today

Drafting and reviewing your own business contracts can be extremely problematic and could create problems for you later on. The experienced business lawyers at Niekamp, Weisensell, Mutersbaugh & Mastrantonio, LLP can assist you with drafting a contract, reviewing that contract for accuracy, and making sure that the contract contains all of the necessary information to keep both you and your business protected.

Also, if a dispute arises regarding a contract, our experienced team can explain all of your legal options to you, as well as the risks and benefits of each. For a free legal consultation, please contact our Ohio contract lawyers today for additional information.

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