You and other business owners in Georgia just like you depend on contacts to keep your businesses running smoothly. Unfortunately, over the life of your company, you are likely to deal with contract disputes. They happen, and the following reasons are the most common causes of contract disputes.
Reason number one: lack of a well-defined contract. If you pull a standard contract form off the internet, the language in it will be pretty basic. It may not offer the protection you need because it does not set clear expectations.
Reason number two is: the contract was drafted by one party. If one party drafts the contract, the other party may find it lopsided — it doesn’t serve his or her best interests. The only way to ensure a contract is fair and balanced is to have all parties take part in drafting, modifying and reviewing the terms before anyone signs the final document.
Reason number three is: lack of contingency plans. Life is unpredictable. Planning for the unexpected can save your company a lot of money and possibly from going under. Failing to have a contingency plan in place may only hurt you and your employees in the long run.
The best way to avoid contract disputes is to ensure that contracts are strong in the first place. An experienced business law attorney can help company owners in Georgia create contracts that serve their best interests. To learn more about this particular subject and how an attorney can be of assistance to you, please take a moment and visit our firm’s website.